GVC “expects to remain” in Russia despite reported end of JV
Local media reports suggest local partner Alexander Mamut is aiming to sell his bookmaker licence, with suitors including The Stars Group
GVC Holdings expects to remain active in the regulated Russian betting market despite reports about the potential end of its JV with a local business, the company has said.
GVC went live with bwin.ru back in 2017, supplying the brand, platform, and support services to the JV, with a local operator Digital Betting bringing the licence and local media company Rambler&Co doing the marketing.
Reports from local media emerged last week claiming the billionaire backer of Rambler and Digital Betting, Alexander Mamut, was trying to sell the licence, with plans to then scrap the bwin brand and terminate the GVC contract.
However GVC today said it remained committed to the market, saying in a statement provided to EGR: “Russia is a B2B market for us and we expect it to remain the case going forward.
“We have an existing partner and have had a number of approaches from other parties interested in working with us.”
Alexander Mamut
The Stars Group was also flagged by the original story as a potential buyer for the licence, although the operator declined to comment today when contacted by EGR.
The company said after its Q2 results in September it was aiming to acquire a bookmaker licence in Russia, where its online poker and casino services have been disrupted by ISP blocking.
EGR understands the operator has been doing its due diligence on the country’s betting market in recent months.