MGM Resorts agreed a deal with GVC Holdings

MGM Resorts International has agreed on a joint venture with GVC Holdings Plc to set up an online betting platform in the United States.

GVC and MGM have agreed to inject US$100mln each as part of the 50/50 joint venture, which is expected to be formed ahead of the professional American football season. The collaboration is likely to involve a 25-year commitment, with an option for either company to buy the other out after 10 years.

The new venture will have exclusive access to all U.S. 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 play MGM and partypoker headline brands.

This collaboration 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.

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