..

MGM Looks to Create Online Sports Betting Conglomerate in US With Acquisition Talks

Written by:
Guest
Published on:
Jul/29/2018

MGM Resorts is in talks with British FTSE-listed GVC Holdings to create an online sports betting conglomerate in the United States following the US Supreme Court's ruling to annul a decades long prohibition on sports wagering.

Up until this past May, US sports bettors could only play with international gambling sites.  Now MGM wants all-in, but the casino firm also needs to partner with a company already entrenched in the world of Web gambling.

Enter GVC Holdings, which last year purchased one of the UK's top three bookmakers, Ladbrokes.

“The Group can confirm that discussions are at an advanced stage regarding such a joint venture and will update the market when appropriate,” GVC said in a statement.

Broadcaster Sky News reported that GVC and MGM Resorts would each put in an initial $100 million as part of a 50:50 joint venture focused on US sports betting as part of a 25-year commitment. 

- Aaron Goldstein, Gambling911.com

Gambling News

Bragg Gaming Launches With Betway

Bragg Gaming Launches With Betway

ORYX Gaming, a Bragg Gaming Group company ( TSXV: BRAG, OTC:BRGGF ), announced today that its entire RGS portfolio has gone live with leading global online sports betting and casino operator Betway via their market-leading ORYX Hub platform. Betway is licensed in several key jurisdictions. 

Payments Crucial to Ongoing Growth of US Online Sports-Betting Market

Payments Crucial to Ongoing Growth of US Online Sports-Betting Market

Quickly and easily receiving payouts of winnings is the most important factor for U.S. sports bettors when selecting an online sportsbook, and prioritized by 37% of players, according to research released today by Paysafe, a leading integrated payments platform. The latest All the Ways Players Pay report also suggests that offering digital wallets and other alternative payment methods allows sportsbooks to overcome the challenge of card declines.

Record Year for NJ Sports Betting; Casinos, Not So Much

Record Year for NJ Sports Betting; Casinos, Not So Much

New Jersey took nearly $1 billion worth of sports bets in December, an encouraging finish to a year in which coronavirus closures and restrictions sent overall gambling revenue down nearly 17%.

Casino Billionaire, GOP Mega Donor Sheldon Adelson Dies

Casino Billionaire, GOP Mega Donor Sheldon Adelson Dies

LAS VEGAS (AP) — Sheldon Adelson, the billionaire mogul and power broker who built a casino empire spanning from Las Vegas to China and became a singular force in domestic and international politics has died after a long illness.

5 Ways to Improve How You Run Your Online Sportsbook in 2021

5 Ways to Improve How You Run Your Online Sportsbook in 2021

If you run your own online sportsbook, Gambling911.com presents five ways to improve how you do so and increase profitability, courtesy of our friends at PricePerPlayer.com. 

Syndicate