Poll: Is GVC on the right track with Sportingbet?

GVC Holdings acquisition of Sportingbet’s business outside of Australia and Spain was one of the lower key deals in recent teams, but it could prove a hugely significant one for the equally low-ley operator. While William Hill bought the profitable Australian side of Sportingbet’s business, and took an option on its Spanish brand, GVC Holdings took on the rest of the business and was faced with the task of returning the firm back to profitability.

In its first set of results following the purchase in March, GVC has reported an 8% rise in net gaming revenues and a 12% rise in sports wagers for the Sportingbet business. It also noted the strategic review of the business was proceeding at a “lower cost” than expected and said it expected Sportingbet to become a profitable stand-alone business by the end of 2013.

GVC has undertaken a number of redundancies as it “flattens” the organisational structure in part of a cost-cutting plan that has seen it outsource IT to “lower-cost” jurisdictions and cancel all “unnecessary” IT projects. It was also terminated all acquisition marketing and corporate sponsorships it deemed as having a low ROI and said it will focus on customer retention and VIP management. But will this make a difference to the one-time Power 50 number one operator.

Do you think GVC can return Sportingbet to its former glories and is GVC on the right track? Cast your vote on the right hand side of the page.