{"id":84801,"date":"2018-07-30T08:31:48","date_gmt":"2018-07-30T15:31:48","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=84801"},"modified":"2018-07-30T08:31:48","modified_gmt":"2018-07-30T15:31:48","slug":"ladbrokes-owner-gvc-strikes-200-million-sports-betting-deal-with-mgm","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/ladbrokes-owner-gvc-strikes-200-million-sports-betting-deal-with-mgm\/","title":{"rendered":"Ladbrokes Coral Owner GVC Strikes $200 Million US Sports Betting Deal with MGM Resorts"},"content":{"rendered":"

Ladbrokes Coral’s new owner, GVC,<\/a>\u00a0and MGM Resorts have announced a $200 million venture that will unite the UK\u2019s biggest retail betting operator with one of the world\u2019s biggest casino groups in a joint bid to dominate the newly liberalized US sports betting market.<\/p>\n

\"GVC
Analysts said Monday that MGM is an ideal partner for a foreign sports betting operator looking to make inroads into the US. But the deal will also include development of other digital GVC and MGM assets, such as PartyPoker and PlayMGM. (Image: MGM Resorts International)<\/figcaption><\/figure>\n

GVC and MGM said in a joint press release they will build \u201ca world-class sports betting and online gaming platform\u201d which would have \u201cmeaningful early mover advantages.\u201d<\/p>\n

The plan is to launch ahead of the new NFL season in September — although the deal will first need to pass regulatory muster.<\/p>\n

The two gambling giants will split ownership of the venture 50\/50, each contributing $100 million. GVC has an existing commercial relationship with MGM in New Jersey, where it supplies technology for the Borgata\u2019s online poker and casino operations, though PartyPoker — and the Party brand will also play a significant role in the deal.<\/p>\n

Not Just Sports Betting<\/strong><\/h2>\n

\u201cThe new venture will have 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 — facilitating entry into multiple digital gaming verticals under the playMGM and partypoker headline brands,\u201d the two companies said.<\/p>\n

The venture will also allow for full integration between the MGM Resorts and GVC loyalty programs, enhancing the user experience and value proposition for existing and future customers.\u201d<\/p><\/blockquote>\n

In May, the US Supreme Court rejected PASPA, the federal law that had prohibited state-sanctioned sports betting since 1992, paving the way for states to legalize and regulate bookmaking operations.<\/p>\n

\u2018De-Risking\u2019 the Market<\/strong><\/h2>\n

While the biggest betting operators from the UK and Europe — names like William Hill, Paddy Power Betfair and Bet365<\/a> — have been busily forging deals as they seek to make inroads into the gradually emerging markets, Ladbrokes and GVC had been oddly quiet.<\/p>\n

\n

It\u2019s now clear why. For GVC, MGM Resorts represents the holy grail of potential US partners. Beyond its domination of the Las Vegas Strip, MGM has often market-leading presence in many states that either have or are likely to regulate sports betting, like New Jersey, Mississippi, Massachusetts, Maryland, and Illinois.<\/p>\n<\/div>\n

The deal will ease the Ladbrokes brand into a powerful market position. Ivor Jones, an analyst at Peel Hunt, noted that, beyond its initial outlay of $100 million, GVC will not be required to spend big on a range of different market-entry strategies, as will many of its competitors.<\/p>\n

\u201cGVC has signed up for a joint venture with one of the largest gambling businesses in the US on an exclusive basis,\u201d he said in the note. \u201cIf the joint venture works, then it will de-risk access to the US sports-betting market for both parties.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Ladbrokes Coral’s new owner, GVC,\u00a0and MGM Resorts have announced a $200 million venture that will unite the UK\u2019s biggest retail betting operator with one of the world\u2019s biggest casino groups in a joint bid to dominate the newly liberalized US sports betting market. GVC and MGM said in a joint press release they will build […]<\/p>\n","protected":false},"author":36,"featured_media":84803,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,1074,16693],"tags":[],"acf":[],"yoast_head":"\nLadbrokes Owner GVC Strikes $200 Million Sports Betting Deal with MGM<\/title>\n<meta name=\"description\" content=\"GVC, new owner of Ladbrokes Coral, has announced a $200 million joint-venture with MGM to provide land-based and sports betting and online gaming in the US markets.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/ladbrokes-owner-gvc-strikes-200-million-sports-betting-deal-with-mgm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ladbrokes Owner GVC Strikes $200 Million Sports Betting Deal with MGM\" \/>\n<meta property=\"og:description\" content=\"GVC, new owner of Ladbrokes Coral, has announced a $200 million joint-venture with MGM to provide land-based and sports betting and online gaming in the US markets.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/ladbrokes-owner-gvc-strikes-200-million-sports-betting-deal-with-mgm\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2018-07-30T15:31:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/07\/mgm.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"559\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Philip Conneller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@casinoorgphilc\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Philip Conneller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/ladbrokes-owner-gvc-strikes-200-million-sports-betting-deal-with-mgm\/\",\"url\":\"https:\/\/www.casino.org\/news\/ladbrokes-owner-gvc-strikes-200-million-sports-betting-deal-with-mgm\/\",\"name\":\"Ladbrokes Owner GVC Strikes $200 Million Sports Betting Deal with MGM\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/ladbrokes-owner-gvc-strikes-200-million-sports-betting-deal-with-mgm\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/ladbrokes-owner-gvc-strikes-200-million-sports-betting-deal-with-mgm\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/07\/mgm.png\",\"datePublished\":\"2018-07-30T15:31:48+00:00\",\"dateModified\":\"2018-07-30T15:31:48+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/58769b72851c8cf117fb58ca150ebf8b\"},\"description\":\"GVC, new owner of Ladbrokes Coral, has announced a $200 million joint-venture with MGM to provide land-based and sports betting and online gaming in the US markets.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/ladbrokes-owner-gvc-strikes-200-million-sports-betting-deal-with-mgm\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/ladbrokes-owner-gvc-strikes-200-million-sports-betting-deal-with-mgm\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/ladbrokes-owner-gvc-strikes-200-million-sports-betting-deal-with-mgm\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/07\/mgm.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/07\/mgm.png\",\"width\":1000,\"height\":559,\"caption\":\"Analysts said Monday that MGM is an ideal partner for a foreign sports betting operator looking to make inroads into the US. 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