trending Market Intelligence /marketintelligence/en/news-insights/trending/FvnU0_X-RgPx_k83FZrZmQ2 content esgSubNav
In This List

GVC Holdings cancels contingent value rights after UK enacts betting changes

Blog

Japan M&A By the Numbers: Q1 2022

Blog

Insight Weekly: M&A outlook; US community bank margins; green hydrogen players' EU expansion

Blog

Global M&A by the Numbers: Q2 2022

Blog

SEC Climate Disclosure Requirements Heating Up: How to Take Action


GVC Holdings cancels contingent value rights after UK enacts betting changes

GVC Holdings PLC said Jan. 7 it canceled its contingent value rights, or CVRs, following the U.K. government's approval of a law to lower the maximum staking levels of fixed-odds betting machines to £2.

The online gambling company agreed with holders of the option that CVRs and loan notes they may have had a right to now have zero value after a consultation was held following the law's approval Dec. 18, 2018.

GVC added that it will not issue loan notes nor enter into a loan note instrument since the amended and restated CVR instrument, dated March 28, 2018, has terminated.