GVC Holdings, MGM Resorts in Sportsbetting Deal

UK betting group GVC Holdings announced that they've signed an agreement with MGM Resorts International that will see the groups working together to launch sportsbetting operations in the newly opened American market.

The agreement will see the groups working 50-50 to focus on U.S. sportsbetting, which will give GVC the chance to provide the sportsbetting and online betting platforms for each of MGM's properties in the United States. States that have legalized sportsbetting will get books built in as the casino is licensed, banking on the British company's previous experience to provide a competitive product. Initially, both MGM and GVC will pay $100 million to get the operation up and running.

Commenting on the agreement MGM Resorts CEO Jim Murren said, "We are proud to join forces with GVC, the largest and most dynamic global online betting operator, with existing reputable and trusted operations in the US.

"With MGM Resorts' expertise and leading position in key markets across the US, this historic partnership will be positioned to become the instant leader in technology, market access, sports relationships and brands.

"Together, we are creating a one-of-a-kind platform that we expect will dominate the US sports betting market."

No timetable for integration of the platform was available as of press time.

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bgsharpe
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1 August 2018 - 12:48pm
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There's such a fever for most of the leading bookies to join the newly created sportsbetting market in US and we could understand why really.
The potential of this market is enormous and will only grow in the next years of course but I think that's a good news for the local punters too because of course you want all the top brands from the sector in a competition there, that what should give the players the best possible gaming environment.