..

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

Early Spreads on the 2022 College Football Season Weeks 0 and 1

Early Spreads on the 2022 College Football Season Weeks 0 and 1

We are exactly three months and eight days away from the kickoff of the 2022 college football season as of May 19.

Man in Japan gambles COVID Town Funds Mistakenly Sent to Him

The money was supposed to be COVID-19 assistance for low-income households in a small Japanese town, but it was mistakenly wired to a bank account of a resident who refused to return it and spent most of it on online gambling, police said.

Crypto, Blockchain and Gaming News: Crypto Crash Leaves El Salvador With No Easy Exit From Worsening Crisis

Under populist President Nayib Bukele has been a vocal cheerleader for the currency, but the recent crypto slump has also closed some potential off-ramps from the crisis, including the now-postponed Bitcoin bond.

Female Poker Pro Natalie Hof Ramos Claims "Almost Raped Working at EPT Monaco"

Female Poker Pro Natalie Hof Ramos Claims "Almost Raped Working at EPT Monaco"

She also reveals sexual harassment at the WSOP while pregnant and lashed out at poker pro and podcaster Doug Polk this week for his insensitive body shaming tweet.  Kid Poker also accused of "blatantly staring".

Baseball Betting News: Hot UNDER Trend in the White Sox vs. Royals Series

The UNDER is 13-3 in the last 16 meetings in Kansas City plus Rangers are 4-22 in the last 26 meetings in Houston.

Syndicate