Gamesys Group to consider launching sportsbook brand
London-listed operator will look at options to replace Virgin Bet which is not part of newly merged group
Gamesys Group will consider launching a sports brand of its own following the recent separation of Virgin Bet from the rest of the group, the operator said yesterday.
The Virgin Bet sportsbook was held back from the JPJ/Gamesys acquisition by the Gamesys founders and is now owned by LiveScore Group Limited.
The LiveScore business, acquired back in 2018, was also held back from the merger.
However Gamesys Group said yesterday it could yet launch a sports brand of its own, although it did not specify if this would be under an existing or new brand.
“There’s no immediate plans but yes it’s something we would consider,” executive chairman Neil Goulden told analysts yesterday on the firm’s Q3 earnings call.
“No decision has been made on that but it’s something very much on [group CEO Lee Fenton’s] mind as he puts together the group’s strategy for the future.”
Neil Goulden
Elsewhere, Goulden played down the threat form the recent calls for a £2 stake limit on online slots, saying it was “very unlikely” ever to become law.
“I haven’t heard any noise of [political parties] adopting this report at all,” Goulden said. “It was rushed out because parliament was dissolving and they didn’t get evidence from the minister or the Gambling Commission, so I don’t give it much credence at the movement.
“Goulden added: “No-one can deny the fact that this noise around the industry is not good for staff, investors or customers, but I don’t think we are in any way threatened in the short to medium term.”
Gamesys said its average slot stake was 80p, and a £2 limit would have mid single-digit hit on revenues.
Group CFO Keith Laslop added: “Online gaming is improving RG measures continuously and by the time it might come in it would be largely irrelevant and mostly unnecessary.