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NEWS 22 November 2018
GVC buys Australia's Neds International
By Tim Poole

GVC Holdings has acquired Neds International for an initial AUS$68m (US$49m), with the fee potentially rising to AUS$95m.

The online sports betting operator only launched in 2017 but has impressed prospective investors with a rapid growth rate, which has led to an expected AUS$1bn in wagers and AUS$100m in gross gaming review for 2018.

The deal will boost GVC-owned Ladbrokes’ business in Australia, with GVC expecting the combined businesses to become a "top-three player" within the Australian market.

The operator anticipates annual synergies of AUS$16m, which will be fully realised in 2021, and expects the acquisition to be earnings accretive from 2020.

Kenny Alexander, GVC CEO, said: "Australia is a core market for the Group and today's acquisition further strengthens our position. Neds is an exciting business, with talented people and enables us to further grow market share through two differentiated brands."

Dean Shannon, Neds Executive Chair, said: "GVC is a natural fit for the Neds business, we share the same entrepreneurial ideals, while delivering market leading products and service to our customers."

RELATED TAGS: Mergers & Acquisitions
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IN-DEPTH 10 December 2018
Tackling the issue of UK self-exclusion

Harrison Sayers asks three industry executives about self-exclusion in UK gambling. Jack Symons, founder of Gamban, tells us why he saw it necessary to create his own self-exclusion software. Tracy Damestani, Chief Executive, National Casino Forum, explains how SENSE has long looked after those looking to avoid land-based casinos. Fiona Palmer, CEO of GAMSTOP, gives an update into the effectiveness of the UK’s National Online Self Exclusion Scheme.

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