Betfred and GVC scrap platform deal

Betfred and GVC Holdings have scrapped plans to migrate the UK bookie’s online sportsbook and gaming business across to GVC’s bwin platform, EGR Intel has learned.

The two firms, which announced the partnership last spring, had been due to kick-start the migration process later this year, however, it is understood Betfred and GVC have mutually agreed to walk away from the 10-year deal.

Betfred, which currently sits on GTECH technology, had planned to move onto the GVC platform following an “extensive review” of its online division.

The bookie’s digital business has struggled to perform in the post-PoC landscape and, according to former Betfred CEO John Haddock, had been “impressed by GVC’s proprietary technology platform, together with its scalability and flexible approach”.

The move would have also given Betfred access to GVC’s back-end data tools, enabling the operator to segment players and personalise its offer.

However, Haddock left the firm in September and was immediately replaced by Betfred owner and chairman Fred Done, who is understood to prefer keeping operations in-house as much as possible.

Meanwhile, EGR Intel understands GVC also favoured a termination of the deal, with early talks regarding a potential Betfred partnership pre-dating GVC’s acquisition of bwin.party last February.

GVC will now have greater time and resources to focus on its ongoing integration of the bwin.party business, while a tie-up with Betfred may have resulted in GVC having less flexibility to expand in certain markets.

In a joint-statement, the firms said: “GVC Holdings and Betfred today confirm that they have terminated their agreement for the licencing of GVC’s online sportsbook and gaming platform by mutual consent.

“The termination of the agreement will allow both parties greater flexibility to develop their businesses going forward. The decision was reached amicably, with no penalty clauses triggered by either party.”