GVC Holdings and MGM Resorts to Merge

According to Sky News reports, the Isle of Man iGaming company, GVC Holdings, is in the advanced stages of talks with MGM Resorts, a worldwide entertainment industry giant, for a proposed merging of businesses.

Deal(s) of the Decade

The Las Vegas-based company, MGM, will step into a long-term t venture with GVC, a company who has made a lot of headlines by inking numerous new deals over the last year…

…For one, they have acquired a major share of the Crystalbet company and have also purchased the Britain’s betting and gambling group Ladbrokes Coral Group Plc..

Likewise, one of the largest iGaming networks in the UK, Cozy Games, has been sold to GVC…

…MGM has no shortage of business acumen and deals inked, as well. Their t venture with launch a sportsbook in Mississippi and in Maryland. The company has also inaugurated the $48 million expansion of MGM National Harbor.

Finishing Touches

The final details were worked on this weekend, meaning the GVC will soon team up with a company that has resorts in Las Vegas, New Jersey, Detroit and a planned one in Springfield, Massachusetts.

GVC’s statement reads…

“The Group can confirm that discussions are at an advanced stage regarding such a t venture and will update the market when appropriate.”

Both companies are investing $100 million in this venture that will encom sports betting and all other gaming services in a number of venues across the USA.

Source:

“Ladbrokes hits $200m MGM jackpot in US sports betting frenzy”, sky.com, July 28, 2018.