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Gaming giant GVC Holdings has announced that they've left the Swiss gaming market, pulling their popular PartyPoker and Bwin brands from the market.
The move comes as the country's new gambling laws took effect at the beginning of the month, and requires online operators to team up with existing land casinos in order to offer cyber services to punters. Apparently GVC was unable to come to an agreement with a land casino, despite supposedly having a series of talks with a land group.
The decision to leave will leave GVC in good standing with the Swiss gaming regulator, and will only have a small effect on the company's bottom line, as the country accounted for less than 1% of GVC revenues last year. This will leave the option available for GVC to re-enter the market in the future should something change in the future. The country won't begin enforcing the new gambling laws until July, but apparently leaving quickly is in the best interest of the gaming giant.
GVC isn't alone in leaving Switzerland, either. Other big name companies such as MRG (owner of Mr Green and William Hill) and NetBet have also pulled out, and others are planning to ahead of the July deadline.
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