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Investor Presentation Investor Pack August 2018 Contents . Business Overview . Appendix . 2018 Trading Update . Historic Proforma Numbers . Other – Regulatory / Capital Structure / Geographic split 2 Business Overview GVC Business Overview Business overview Global presence GVC is a global, multi-channel sports betting led gaming company Diversified geographic footprint and product mix Operates B2C sports brands (bwin, Ladbrokes, Coral, Sportingbet, Eurobet) and games brands (partypoker, PartyCasino, Galabingo, Gioco Digitale) Scalable and proven proprietary platform also supports B2B offering Acquired bwin.party in 2016 with a synergy target of €125m and Ladbrokes Coral in 2018 with a synergy target of £130m Office Locations Business highlights Licensed jurisdictions 17 Major established B2C gaming brands 21 Languages 3,500 Shops across UK 22 Offices across five continents >20 Licenses Yes >95% GVC revenues processed derived through own Yes (Transitional) platform Yes (Application) 4 Source: 2016 annual report, as at 31 Dec 2016. GVC combined Prospectus and Class 1 circular dated 9 February 2018. GVC Business Overview Acquisition of Ladbrokes Coral creates an enlarged company with a range of competitive advantages: 1 Significant scale as the largest listed online-led betting and gaming operator by revenue 2 Geographic diversification with over 90% of revenue from regulated and/or taxed markets 3 Market leading technology and product development 4 Strong brand portfolio and opportunity to leverage multi-channel 5 Experienced management team with a track record of successful acquisitions 6 Opportunities for cost and revenue synergies 7 Well positioned to enter new markets in a consolidating industry 5 1 Significant Scale Acquisition of Ladbrokes Coral creates a global leader The largest online-led operator in the world (£ in billions, last reported full year revenue) 3.3 2.2 1.0 1.7 1.7 0.9 0.6 0.4 0.4 0.3 (1) (2) Source: Latest annual reports revenue figures. Note: Peer revenue based on last reported financial year. Exchange rates used as of 31 Dec 2017. Charts exclude Asian markets. 6 (1) Includes Proforma GVC FY17 and Proforma Ladbrokes Coral FY17 (2) The Stars Group announced its acquisition of the Sky Betting and Gaming Group on 21 April 2018. Completion is expected in Q3 2018 2 Geographic Diversification Present in the world’s most important gaming markets Present in all of the world’s top ten markets (ex Asia) Over 90% revenue from regulated / taxed markets (€ in billions, gross win, 2017) 105 25% Regulated/ing and Taxed (1) GVC Unregulated 20 75% 17 16 14 11 10 9 + 0.2% 3 Regulated/ing and Taxed 2 Ladbrokes Unregulated Coral 99.8% US UK Italy Spain France Canada Sweden Australia Germany Netherlands Top 3 positions in Europe’s largest online markets – UK, Germany and Italy 6% Top 3 retail positions in UK, Italy, Spain, Belgium and Regulated/ing and Taxed Ireland Combined Group Unregulated Strong presence in Australia and licensed in the US 94% 7 Source: H2 Gambling Capital, Ladbrokes Coral 2016 annual report, GVC RNS 2 November 2017 (1) Pro forma for sale of Turkey facing business. 3 Market Leading Technology Proprietary single, integrated technology platform yields a significant competitive advantage GVC proprietary technology Significantly improved since Key strategic benefits of the platform bwin.party acquisition GVC platform Highly Previously Now 1 Provides flexibility and AVAILABLE independence from To integrate a third parties new 20 to 24 2 to 3 Massively Game Weeks Weeks SCALABLE Provider 2 Significant economies of scale Easily EXTENDABLE To setup a new 3 Improvements to the platform Label 8 to 9 1 to 2 Capable Weeks Weeks benefit all brands (and B2B (Business) operations) at once 1000+ IT STAFF Multi 4 Device agnostic, providing a BRAND & B2B seamless experience from mobile to To adapt to a desktop to tablet new 16 to 20 2 to 4 Fully Regulation Weeks Weeks REGULATED 5 Content management system allows marketing teams to customise the site Omni CHANNEL To on-board a new 32 to 40 8 to 12 B2B Partner Weeks Weeks 6 Ensures that the group remains Complete compliant and meets the needs of PRODUCT SET individual country regulators 8 4 Strong and Complementary Brand Portfolio Limited geographic brand overlap Online: Sports-led Online: Games Retail . Highly complementary brand UK portfolios Italy . Minimal brand overlap in key markets Ireland . Addition of Retail adds powerful, low-cost marketing channel for Belgium online Europe Spain . Combined Group to pursue multi- brand strategy in markets with overlap Germany . Creates significant cross-sell and Eastern Europe revenue synergies opportunities Greece Brazil Columbia Australia Rest World of Canada 9 4 Brand Portfolio: Online Sports brands Games brands Most major markets Europe Latin America All major markets Latin America Central Europe 17 well established B2C sports and gaming brands Innovative products with in-house game studio building exclusive content Holds top 3 positions in Europe’s largest online markets – UK, Germany and Italy 10 4 Brand Portfolio: Retail UK Retail European Retail #1 operator in UK retail gaming industry Ireland Italy #3 retail #3 retail 41% market share(2) 140 shops Strong multi- channel presence Over 3,500 UK shops (3.6 year avg lease length in 2016) 850 shops Market leading multi-channel offering – 1.3 million combined multi-channel signups NGR – Lifetime value of multi-channel customers are 2x H1-17 higher Spain Belgium #1 retail #1 retail Online recently launched Online recently launched 1,726 shops 541 shops 11 5 Experienced Management Team Experienced management team with a track record of successful acquisitions Name and role Year joined Experience Lee Feldman 2004 Non-executive (GVC) Chairman Kenneth Alexander 2007 Chief Executive (GVC) Officer Paul Bowtell 2011 Chief Financial (Gala Coral) Officer Andy Hornby 2011 Joint Chief Operating (Gala Coral) Officer Shay Segev 2016 Joint Chief Operating (GVC) Officer 12 5 Proven Track Record of Synergies Delivery Proven acquisition track record and ability to constantly overachieve on synergies over a short period Target Date 19 March 2013 1 February 2016 1 November 2016 Deal Size €83.9m(1) £1.1bn £2.3bn Delivered EBITDA of €38.3m in year 1 On track to deliver run rate synergy (£ in millions) vs. expected €28.7m target of €125m by the end of 2017 150 Cost (on 2015 EBITDA of only €109m) savings / 65 synergy Removed €50m of cost and returned bwin.party brands returned to delivery to profitability in <1 year growth almost immediately after four consecutive years of declining Original synergies Revised synergies projection projection sales GVC share price since 2009 Ladbrokes Coral synergies phasing (£ in millions) GBp 150 1,000 125 750 65 50 55 500 23 Successful execution Successful 250 2017 2018 2019 0 Original synergies projection Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Revised synergies projection Source: Prospectus dated 9 February 2018, Ladbrokes Coral prospectus dated 27 October 2016, GVC presentation dated 16 November 2015, FactSet. 13 Note: Close price adjusted for both dividends and splits. (1) William Hill contributed £36.5m towards balance sheet repair, restructuring and deal costs. 6 Synergies Announced upgraded cost synergies of £130 million Synergy overview Cost synergy areas Cost synergies now expected to be £130million (previously £100m) by the end of 20211 Technology and data enabled Corporate and administrative Common platforms Consolidating customer service teams and technology costs Total integration costs expected to be c1.0x cost synergies Own gaming content Lower cost locations Increased bargaining power with Potential additional synergies: content suppliers Common mktg & central functions Other Marketing − Capital expenditure savings from technology and procurement Combining international platforms Leveraging combined Group’s and teams business intelligence capability to − Revenue synergies through cross-selling, implementation of best in achieve savings from reduced External costs class systems and sophisticated marketing techniques marketing and bonus spend Office and travel costs Originally announced (cumulative) Updated guidance (cumulative) Integration Costs Year post Exit Run Rate Financial Exit Run Rate Increase (Run New Exit Realised in Year (In Year) acq. Year Rate) Run Rate Year 1 £7m 2018 £5m £2m £7m £4m-£5m £17m Year 2 £33m 2019 £27m £8m £35m £16m-£26m £39m Year 3 £56m 2020 £50m £28m £78m £52m-£62m £43m Year 4 £100m 2021 £100m £30m £130m £104m-£114m £31m Year 5 £100m 2022 £100m £30m £130m £130m - Synergies split: c£125m of synergies to be delivered in Online and c£5m in Corporate 14 Source: GVC combined Prospectus and Class 1 circular dated 9 February 2018. [1] Exit run rate 7 US Opportunity: JV with MGM Transaction structure and key terms • 50 / 50 joint venture between MGM Resorts International (“MGM”) and GVC Holdings (“GVC”) for sports Transaction betting and interactive gaming in the U.S. • Both parties providing exclusive rights to relevant assets subject to 25-year agreements Joint venture • Exclusive access to all U.S. land-based and online sports betting, online real money and free-to-play casino gaming, major tournament and online poker, and other similar future interactive businesses business • Business to be conducted primarily under the playMGM and partypoker brands activity • Parties are exclusive to each other in the U.S. for these activities • Four person board of directors, with two members appointed from each of MGM and GVC Governance • Equal governance and decision making rights • Joint venture structure creates alignment of interests • Independent leadership team to be selected from best-in-class talent from each company and additional Management & new hires Operations • New joint venture headquarters to be located in major U.S. technology hub 15 7 US Opportunity: JV with MGM Exclusive access to relevant assets Parties contributing exclusive access to: Economics of existing and future U.S. sportsbooks All U.S.
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