EML Payments enters multi-year GVC agreement

Payment services provider EML Payments has entered into a multi-year agreement with GVC Holdings. The deal is for the provision of branded reloadable cards for GVC’s online gaming brands.

The FTSE250 gambling group’s customers can use the cards to immediately access their winnings and remit funds back into their gaming account.

GVC operates in more than 20 regulated jurisdictions and owns more than 20 established B2C gaming brands, with some of the gaming industry’s leading brands, including Ladbrokes, bwin, Coral, Sportingbet, partypoker, PartyCasino and Gala. Sporting wagers for the firm’s global online brands totalled in excess of £9 billion in 2017.

A schedule to roll out EMLs reloadable winnings card to GVC’s European brands is expected to be confirmed over the next 90 days. Given uncertainties in the pace of brand rollouts and of rate of adoption in new markets, EML is unable to accurately estimate future Gross Debit Volume (‘GDV’) that will be derived from this program.

The EML portfolio offers innovative payment technology solutions for payouts, gifts, incentives and rewards, and supplier payments. The firm manages more than 1100 programs across 19 countries in North America, Europe and Australia.

Signing the GVC program will have no earnings impact on EMLs financial year ending 30 June.

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