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37 Entertainment files arbitration claim vs GVC Holdings
Thursday December 17,2015 : G.V.C. FACING ARBITRATION CLAIM FROM CANADIAN MARKETING FIRM
Gambling group says 37 Entertainment claims are “spurious” and “without substance.”
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.
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