gambling

GVC Holdings Faces a High Profile Lawsuit

GVC Holdings lawsuit

37 Entertainment accuses GVC Holdings of delaying and cancelling a deal about two conjoint betting sites in Canada.

According to online gambling news, GVC Holdings faces a high profile legal battle with 37 Entertainment. Allegedly, GVC Holdings backed out of an agreement with the Canadian sports and entertainment consultancy after joining the bid for the acquisition of bwin.party. As previously reported, GVC Holdings made several steps to acquire the company, with offers as high as 1,6 billion dollars.

Canadian gambling news report, that GVC Holdings arranged a deal with 37 Entertainment in which they agreed to the conjoint operation of two online sportsbooks in Canada. These betting sites would’ve been directed towards Quebec residents and the English-speaking areas of the country.

GVC Holdings refutes the accusations

37 Entertainment confirmed that the companies made several written and verbal commitments. However, there was no agreement signed so GVC Holdings abandoned the plans. Afterwards, 37 Entertainment accused the company of purposefully delaying the formalities. Consequently GVC Holdings might face numerous investigations and lawsuits. As of now, GVC Holdings denied the charges brought up against them.

The two companies have originally agreed on an equal share of revenues. 37 Entertainment would have been dealing with the new brand’s marketing to Canada based players and GVC Holdings with the operation of the site’s services. “This is a claim without merit. No formal agreement was reached with the company,” declared GVC Holdings in a statement.

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