GVC facing arbitration claim from Canadian marketing firm
News on 17 Dec 2015
News on 17 Dec 2015
37 Entertainment, a Canadian marketing company, has reportedly filed an arbitration claim with the International Chamber of Commerce, alleging that online gambling group GVC Holdings reneged on a business agreement, failing to deliver promised services for the launch of two white-label online gambling sites, which were to be operated jointly by the two companies.
GVC, which is in the final stages of a major Euro 1.6 billion takeover of rival Bwin.Party Digital Entertainment has denied that a formal agreement was reached, and has dismissed the accusations as “spurious” and “without substance.”
The 37 Entertainment complaint reportedly alleges that GVC repeatedly delayed signing the white label contract before withdrawing unexpectedly from the deal, on which marketing operations had already commenced.
