{"id":22,"date":"2018-07-30T00:00:00","date_gmt":"2018-07-30T00:00:00","guid":{"rendered":"https:\/\/gbc.ng\/gvc-and-mgm-aim-to-dominate-us-betting\/"},"modified":"2018-07-30T00:00:00","modified_gmt":"2018-07-30T00:00:00","slug":"gvc-and-mgm-aim-to-dominate-us-betting","status":"publish","type":"post","link":"https:\/\/gbc.ng\/index.php\/gvc-and-mgm-aim-to-dominate-us-betting\/","title":{"rendered":"GVC AND MGM AIM TO \u2018DOMINATE\u2019 US BETTING"},"content":{"rendered":"<p>Ladbrokes owner GVC and US casino giant MGM Resorts said they expect to \u201cdominate\u201d the US sports betting market after announcing a $200m (\u00a3153m\/\u20ac171m) joint venture.<\/p>\n<p>As MGM also announced a partnership with Boyd Gaming that would see the two casino operators share market access across 15 states, the Las Vegas-based giant unveiled plans to deepen its relationship with GVC,\u00a0with the two already combining to run online operations at Atlantic City\u2019s Borgata Hotel Casino.<\/p>\n<p>The sports betting business would be conducted primarily under the playMGM and Partypoker brands \u2013 the latter acquired by GVC in its purchase of Bwin Party in 2016. The companies said the merged entity has been formed with a view to the start of the NFL season, which begins in early September.<\/p>\n<p>Under the terms of the 50\/50 joint venture announced today (Monday), GVC and MGM will each invest $100m. Both parties will bring exclusive access to all US 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.<\/p>\n<p>Thanks to MGM\u2019s casino portfolio, including Nevada, New Jersey and New York, and its new deal with Boyd, following the opening of MGM Springfield in Massachusetts next month the JV will have a clear path to access to 15 states with a combined population of 90 million.<\/p>\n<p>\u201cWe 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\u2019 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,\u201d said Jim Murren, chairman and CEO of MGM Resorts.<\/p>\n<p>\u201cGVC is unusually qualified due to their existing operations in the US. Together, we are creating a one-of-a-kind platform that we expect will dominate the US sports betting market.\u201d<\/p>\n<p>The venture will establish a separate headquarters to be located in \u201ca major US technology hub\u201d and select a leadership team formed by senior staff from each company and additional new hires.<\/p>\n<p>Last month, the Borgata in Atlantic City (pictured) went live with sports betting in New Jersey on the first day it was legalised. It generated\u00a0revenue of $987,000 in the first two weeks of brick-and-mortar operations\u00a0\u2013 significantly less than the $2.3m taken by Monmouth Park and partner William Hill.<\/p>\n<p>Kenneth Alexander, CEO of GVC, said: \u201cTo be able to team up with a partner with such pedigree and knowledge, particularly in the US, is a real opportunity for GVC.\u201d<\/p>\n<p><strong>The partnership has been welcomed by investors, with GVC\u2019s share price up 5% today. Industry analysts believe the deal will give MGM a technological advantage over its rivals.<\/strong><\/p>\n<p>\u201cFrom MGM\u2019s perspective, the deal looks to be primarily about gaining a technology and operational partner for sports betting and online casino and poker in the US market as more states roll those products out,\u201d said Chris Grove, managing director of sports and emerging verticals for research firm Eilers &amp; Krejcik Gaming,\u00a0according to the Las Vegas Review-Journal.<\/p>\n<p>Under the terms of the partnership with Boyd, MGM and its rival will both have the opportunity to offer online and mobile gaming platforms \u2013 including sports betting, casino gaming and poker \u2013 in jurisdictions where either operate physical casino resorts and online licenses are available.<\/p>\n<p>\u201cOur industry is evolving, providing opportunities for growth through new forms of gaming like online and mobile gaming,\u201d said Keith Smith, Boyd Gaming president and CEO.<\/p>\n<p>\u201cThanks to our partnership with MGM Resorts, Boyd Gaming will have the opportunity to potentially add an online presence in five additional states, positioning us for significant future growth as our respective companies take a leadership role in our industry\u2019s evolution.\u201d<\/p>\n<p>\u00a0<\/p>\n<p class=\"author__bio\" itemprop=\"description\">\n<p class=\"comment-form-comment\"><label class=\"show-on-ie8\" for=\"comment\">Comment<\/label><br \/>\n<textarea aria-required=\"true\" cols=\"45\" id=\"comment\" name=\"comment\" placeholder=\"Message\" rows=\"8\"><\/textarea><\/p>\n<p class=\"comment-form-author\"><label class=\"show-on-ie8\" for=\"author\">Name<\/label><input aria-required=\"true\" id=\"author\" name=\"author\" placeholder=\"Name...\" size=\"30\" type=\"text\" value=\"\"\/><\/p>\n<p class=\"comment-form-email\"><label class=\"show-on-ie8\" for=\"name\">Email<\/label><input aria-required=\"true\" id=\"email\" name=\"email\" placeholder=\"Email...\" size=\"30\" type=\"text\" value=\"\"\/><\/p>\n<p class=\"comment-form-url\"><label class=\"show-on-ie8\" for=\"url\">Url<\/label><input id=\"url\" name=\"url\" placeholder=\"Website...\" size=\"30\" type=\"text\" value=\"\"\/><\/p>\n<p class=\"comment-form-cookies-consent\"><input id=\"wp-comment-cookies-consent\" name=\"wp-comment-cookies-consent\" type=\"checkbox\" value=\"yes\"\/><label for=\"wp-comment-cookies-consent\">Save my name, email, and website in this browser for the next time I comment.<\/label><\/p>\n<p class=\"form-submit\"><input class=\"submit\" id=\"comment-submit\" name=\"submit\" type=\"submit\" value=\"Send\"\/> <input id=\"comment_post_ID\" name=\"comment_post_ID\" type=\"hidden\" value=\"787\"\/> <input id=\"comment_parent\" name=\"comment_parent\" type=\"hidden\" value=\"0\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ladbrokes owner GVC and US casino giant MGM Resorts said they expect to \u201cdominate\u201d the US sports betting market after announcing a $200m (\u00a3153m\/\u20ac171m) joint venture. As MGM also announced a partnership with Boyd Gaming that would see the two&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,3],"tags":[],"class_list":["post-22","post","type-post","status-publish","format-standard","hentry","category-america","category-sports"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>GVC AND MGM AIM TO \u2018DOMINATE\u2019 US BETTING - GBC<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gbc.ng\/index.php\/gvc-and-mgm-aim-to-dominate-us-betting\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GVC AND MGM AIM TO \u2018DOMINATE\u2019 US BETTING - GBC\" \/>\n<meta property=\"og:description\" content=\"Ladbrokes owner GVC and US casino giant MGM Resorts said they expect to \u201cdominate\u201d the US sports betting market after announcing a $200m (\u00a3153m\/\u20ac171m) joint venture. 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