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Gaming service provider GVC Holdings has inked a B2B licensing agreement with sportsbook giant Betfred to provide online sportsbook and gaming platform support.
The Deal
The agreement calls for ten years of exclusive support, upon full migration of Betfred´s sportsbook and gaming offerings to the GVC single account platform.
The Platform
GVC´s innovative platform will provide all Betfred players and punters access to a wide variety of sports and gaming-based content across multiple channels. The GVC support includes data driven tools affording Betfred increased segmentation and customisation of offerings, a benefit passed on to the customer experience as heretofore unseen levels of personalisation.
GVC Expansion
GVC CEO Kenneth Alexander expressed his company´s delight at securing the B2B partnership with Betfred fresh off GVC´s acquisition of bwin.party, as the first B2B agreement for GVC since that £1.1 billion takeover of bwin.party Entertainment.
GVC Benefits
In light of the new step of expansion that the Betfred deal exemplifies, Alexander was celebratory in citing the increase in brand strength and inherent value that the deal infused to GVC´s proprietary technology.
Betfred Benefits
Betfred management cited the strong focus on player journey, personalisation and ease of use between inventory and products as the reasons for choosing GVC’s proprietary technology.
Betfred CEO John Haddock said the company was impressed with the “scalability and flexible approach” of the GVC proprietary software “to support the continued growth of our online business.”
Trader Benefits
Traders took notice as well. The deal boosted GVC shares up 2.8% to 569p at 0840 BST on the day of announcement.
Player Benefits
In GVC´s single account platform format, Betfred customers can now look forward to a "one-stop-shop" online format which provides players with an integrated console from which to access games, list favorites, and manage their player accounts.
Trending Development
According to Moody´s, the deal is consistent with a greater industry trend of gambling operators investing in their online offerings in recent months.
Forecast
Look for more complementary mergers, strategic hires and other reinvests among the ranks of iGaming operators and sportsbook providers over the next three years.
