(Adds detail on strategy, background, quote)
Nov 12 (Reuters) - Ladbrokes and bwin owner GVC Holdings
said on Thursday it was committed to relying on
nationally regulated markets for all of its revenue by 2023 as
new boss Shay Segev laid out aggressive plans to transform and
expand the business.
Unregulated gambling markets in Asia and North America make
up a big portion of the global online gaming market. About 4% of
the company's revenue currently comes from these markets, and
GVC said by the end of the year the number would be cut to 1%.
The bookmaker, which will be renamed Entain Plc, said its
new plan would cut operating profit by around 40 million pounds
($52.73 million) in 2021.
GVC's previous chief executive, Kenny Alexander, who
transformed the group into one of the world's largest gambling
businesses during 13 years at the helm, stepped down in July and
was replaced by Segev.
Segev will focus on sports betting and gaming entertainment,
areas that have prospered from people staying at home during the
COVID-19 pandemic.
"The pace of change shows no sign of abating, and new trends
are emerging in betting and gaming entertainment that are
continually opening up new audiences," the company said in a
statement.
The new strategy also includes adding responsible gambling
metrics into remuneration across the group, as it addresses
issues of problem gambling and safety.
($1 = 0.7586 pounds)
(Reporting by Yadarisa Shabong in Bengaluru; Editing by Anil
D'Silva, Bernard Orr)
