GVC Secures Gaming License in Nevada
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GVC has secured gaming license in Nevada through a partnership with MGM Resorts International. The license approval came with an important condition attached to it. GVC will have to return to Nevada’s regulator after two years and brief its four members on how it has re-assessed its operations. The condition had to do with GVC and Ladbrokes Coral’s presence in Turkey, a jurisdiction where gambling is illegal.
Last year, GVC acquired major British bookmaker Ladbrokes Coral in a £3-billion-plus deal that created one of the world’s largest gambling powerhouses.
GVC have to contribute $100,000 to the Nevada Gaming Control Board for future compliance investigations. The company’s Chairman Lee Feldman told gaming commissioners that they are committed to legal and regulatory compliance and that they have adopted the necessary approach to secure that they are compliant in all jurisdictions they do or do not operate.
Source: Latest News on European Gaming Media Network
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