Agreement of GVC Holdings with GVC New Limited


GVC Holdings, subsidiary of Malta group of GVC cooperation Limited has recently signed a deal with one among the independent third party companies titled as GVC New Limited. According to this signed deal, GVC Holdings would sell their failed sportsbook venture of Betaland for nominal amount of money.

According to the statement of GVC Holdings, “GVC New Limited is neither owned by our GVC group, nor any of the directors, officers or shareholders are the owners of GVC New Limited. Instead, this is one among the completely independent company formed in Malta. Within only two years of the completion of GVC New Limited, transferees have agreed for alter its name, so that it can be reasonably interpreted as having association with GVC Group. Our management has given its conclusion that their returns on Betaland is no more justifying the risks associated with their operations.”

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