GVC Holdings announced the acquisition of Neds International for maximum of AUS$95m ($71.8m)

Sports betting group GVC has reached an agreement to acquire Neds International for up to AUS$95m ($71.8m). Neds International, a relatively new entrant into the Australian digital sports betting market, was launched in 2017. The business had grown rapidly and was expected to achieve AUS$1bn ($756.3m) of wagers and gross gaming revenues of AUS$100m ($75m) in the year to 31 December 2018. "Australia is a core market for the Group and today's acquisition further strengthens our position." said Kenneth Alexander, CEO of GVC. The acquisition is expected to be earnings accretive from 2020.