With each joint venture partner contributing $100 million each, MGM Resorts International and sports gaming and betting group GVC Holdings PLC announced their goal of building a premier new sports betting and gaming platform within the United States. The venture seeks to capitalize on the Supreme Court’s decision to overturn the federal Professional and Amateur Sports Protection Act (PASPA).
“With MGM Resorts’ expertise and leading position in key markets across the U.S., this historic partnership will be positioned to become the instant leader in technology, market access, sports relationships and brands,” said MGM Resorts CEO and chairman, Jim Murren. “We are excited to benefit from GVC’s proprietary, best-in-class technology, digital customer acquisition expertise, and experience with adapting to new operating environments.”
The new platform plans for exclusive access to all land-based and online sports betting in the U.S., as well as free-to-play and real money casino gambling and major tournament and online poker. All of these offerings also enable full integration between GVC and Nevada based MGM Resorts loyalty programs for an enhanced user experience and heightened value proposition for new and existing customers of both.
A separate headquarters within a major American technology hub will be established, a new team of best-in-class talent will be established, and a new four-person board of directors with representatives from both companies will oversee the venture’s growth and operations.
