Regulation

GVC clears another hurdle in Nevada license approval

State Gaming Control Board votes 2-1 to award operator a Nevada license, despite opposition from one board member

GVC has been recommended for licensing in Nevada by the state Gaming Control Board following a 2-1 vote.

The board proposed approving a provisional two-year license for GVC to operate in the state, which includes providing $100,000 to the board for future investigations into company compliance.

Board member Terry Johnson voted against the license approval and criticized GVC CEO Kenny Alexander’s handling of online gaming transactions in Turkey.

Johnson said: “I’m at a loss to understand where exactly did the buck stop in the company if it didn’t stop with you, and why are we to be assured that going forward you’re going to be at the helm of this company in a different manner than what transpired over the past several years?”

The operator sold its Turkey business in 2017 for €150m to pave the way for more M&A in regulated markets.

The case will be reviewed by the Nevada Gaming Commission on May 23.

GVC forged a $200m joint venture with MGM in July 2018 to develop sports betting and gaming in the US.

Gvc | GVC Holdings | Nevada | Nevada Gaming Commission | Regulation | Regulation

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