Despite controversy surrounding its previous dealings in Turkey, online casino and sportsbook operator, GVC Holdings, has reportedly been granted permission to begin offering its services to players in the western state of Nevada.
Provisional permission:
According to a report, Isle of Man-based, GVC, is one of the world’s largest online sportsbetting firms and received its provisional two-year license following unanimous approval by the four-member Nevada Gaming Commission on Thursday morning.
Turkey troubles:
GVC Holdings is already responsible for some 19 iGaming brands including Bwin.com, and PartyPoker.com while it finalized an around £4 billion ($5 billion) deal in March of last year that saw it acquire British sportsbetting giant, Ladbrokes Coral Group. As part of this transaction, the London-listed firm reportedly inherited an operation in Turkey that later came under fire for alleged regulatory failings.
The Las Vegas Review-Journal reported that the firm subsequently offloaded its interests in Turkey and now has no presence in this emerging market. But, this move was not enough to keep Terry Johnson from the Nevada Gaming Control Board from voting against the firm’s application for a Nevada operating license earlie 7BALL r this month.
Narrow endorsement:
Despite this opposition, the Nevada Gaming Control Board approved GVC Holdings’ initial license request via a two-to-one vote after the regulator’s Chairman, John Moran, proclaimed that he was willing to trust that the operator would not repeat any of its past mistakes.
Moran reportedly declared during the license hearing…
“The test is going to see if, in fact, the trust you’re asking us to give you…if we’re going to get egg on our face. I want to see you go forward and prosper within the confines of the law.”
Conditions attached:
As part of its subsequent approval by the Nevada Gaming Commission, GVC has promised to hand over some $100,000 for future compliance investigations and is to have its operational license reassessed in two years’ time.
New Jersey presence:
The firm is already licensed in New Jersey where it runs an online casino in partnership with the Borgata Hotel Casino and Spa property from MGM Resorts International. It also recorded some $982 million in cash flow last year and recently joined with the same land-based operator to establish the new Roar Digital joint venture.
