GVC Holdings can now count Ladbrokes Coral among the brands on its technology platform.
GVC Holdings has completed the migration of all Ladbrokes Coral brands onto its proprietary technology platform.
With the completion of the migration, GVC Holdings, which acquired Ladbrokes Coral in March 2018, now counts Ladbrokes, Coral, Gala Bingo, Gala Casino and Gala Spins among the brands on its platform.
The migration
According to the announcement, this was the largest migration in the history of the business and one of the most complex processes ever carried out in the gambling industry.
The final part of the migration process saw 12.5m Ladbrokes customers migrated to GVC’s platform with a total of 25m players being moved to the new platform. In the announcement, GVC highlighted that despite the scale of the project, it was completed on time and within the set budget.
GVC’s chief operating officer Shay Segev said: “I am delighted that this critical and hugely complex stage of the Ladbrokes Coral integration process has been completed so successfully. It is a great testament to the sophistication of our technology and the quality of our teams, and it is particularly impressive that they have managed to finalise it during this period of remote working.
“It also positions the business even better to emerge from the current crisis from a position of strength.”
GVC said that the migration will deliver greater efficiencies, stability, speed to market, customer propositions and product development. The operator also said the migration will allow it to adapt to regulatory changes and deliver a range of tools and initiatives to support and promote safer gambling.
The company will now proceed with the remaining process and back office integrations and expects to deliver £130m in annualized synergies by the of 2021. GVC also said that the completion of the migration will free up technical resources which can be used to drive product innovation and “execute further M&A where the opportunity arises.”
Segev added: “The GVC integration model has proved itself time and again to be extremely effective at integrating large-scale operations with minimal disruption to our underlying business. As a result, we are confident in our ability to take advantage of the attractive M&A opportunities which we believe will present themselves to us in the future while further boosting the growth of our existing business.”
GVC’s performance
Last month, GVC reported a year-on-year increase in quarter one revenue, despite business slowing down due to the coronavirus pandemic. Although revenue increase, the company made the decision to cancel a planned dividend payment due to uncertainty about the pandemic.
GVC’s board and remuneration committees have also approved a pay cut for its executive committee members and to forego bonus payments for certain members of staff for 2020.
In a trading update, the operator it revealed group net gaming revenue for the three months ending 31 March was 1% higher than the same period last year.
