GVC completes platform migrations for all Ladbrokes Coral brands18th May 2020 12:15 pm GMT
London-listed betting and gaming operator GVC Holdings has completed the migration of all Ladbrokes Coral brands onto its proprietary technology platform.
The successful migration of the Ladbrokes brand completes the migration of all of the acquired brands following the acquisition of Ladbrokes Coral in 2018, with Ladbrokes joining the Coral, Gala Bingo, Gala Casino and Gala Spins brands on the GVC platform.
GVC said that the Ladbrokes migration was the largest the company has undertaken, with the final migration of 12.5m Ladbrokes customers completed at a time when all of the teams involved in the process have been working remotely as a result of the COVID-19 outbreak.
“I am delighted that this critical and hugely complex stage of the Ladbrokes Coral integration process has been completed so successfully,” said GVC chief operating officer Shay Segev. “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.
“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.”
With the platform migrations now complete, GVC said that the remaining process and back office integrations can now take place, with the group on track to deliver the full £130m of annualised synergies by the end of 2021.
It also frees up significant technical resources that can be redeployed to drive product innovation and execute further M&A action where the opportunity arises, the company added.
Shares in GVC Holdings plc (LSE:GVC) were trading up 5.27 per cent at 786.60 pence per share in London earlier Monday.