EML Payments enters into an agreement with GVC

EML PAYMENTS LIMITED (ASX: EML) has announced that for the provision of branded reloadable cards for their European online gaming brands, its wholly owned subsidiary EML Payments Europe Limited has entered into a multi-year agreement with GVC Holdings PLC (LSE: GVC) (“GVC”).

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 their global online brands totaled in excess of GBP9 billion in the year ended 31 December 2017.

A schedule to roll out EML’s Reloadable winning cards to GVCs European brands is expected to be confirmed over the next 90 days. Given uncertainties in the pace of brand roll outs 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.

EML has already provided guidance, and stated that signing the GVC program will have no earnings impact in the Financial Year ending 30 June 2018. Around the time of their AGM in November 2018, the company expects to provide earnings guidance for the Financial Year ending 30 June 2019. With this, the stock soared up by 6.4% on July 02, 2018, 3 pm AEST.


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