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GVC exits Spanish retail sports betting market

18th July 2019 6:55 am GMT

London-listed gaming operator GVC Holdings has agreed a deal to sell its stake in Spanish retail betting operator Sportium for €70m.

GVC will sell its 50 per cent stake to joint venture partner Cirsa for €70m in cash plus repayment of loans and distribution of excess cash, with the transaction subject to regulatory approval.

The Sportium joint venture with Cirsa was established by Ladbrokes in January 2007 after Spain’s autonomous regions began [...]

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