GVC to provide software for Delaware sports betting launch
London-listed GVC Holdings is providing the sports betting software for the Delaware Lottery's launch of its legal sports betting offering.
The launch of single-event sports betting is set to take place at 1:30pm Eastern Daylight Time today (June 5th), with customers able to bet on a range of sports from the state's three casinos.
It will be powered by a sports betting platform provided by Stadium Technology Group, a subsidiary of GVC Holdings. This is to be integrated onto the platform provided to the Delaware Lottery by Scientific Games.
This sees Stadium become the first sports betting solutions provider to launch online since the Supreme Court's repeal of the 1992 Professional and Amateur Sports Protection Act last month.
Through a law passed in 2009, Delaware had put in place regulations for single-event betting, though had been restricted to offering parlay bets until the Supreme Court ruling. Customers will still be able to place parlay bets at more than 100 retail locations throughout the state, also powered by Stadium.
"We are delighted to be up-and-running as the first – and currently only – provider with a market ready solution for our partners in the new regulatory environment," GVC director of development and corporate strategy Adam Greenblatt said.
"As legislation evolves in the post-PASPA world, having the capability and flexibility to be able to get to market fast, with proven and compliant technology, is a key advantage for us.
"This small but important step on the pathway of regulatory reform in the US sports betting and iGaming market, shows the preparedness of GVC to take an active part in the development of the sector," he explained. "We believe the group's proprietary, omni-channel technology coupled with our extensive US and international operating experience and trading expertise, positions us for long-term success."
Las Vegas-based Stadium currently provides betting software to 16 of the 20 licensed sportsbooks in Nevada, and aims to launch an in-play offering for customers ahead of the start of the 2018 National Football League season on September 6th.
Ladbrokes acquired an initial 65 per cent stake in the business in January 2012, and GVC took charge of the business through its acquisition of Ladbrokes Coral earlier this year.
Shares in GVC Holdings plc (LSE:GVC) were trading up 1.54 per cent at 1,054.00 pence per share in London Tuesday afternoon.