Tag Archives: MGM Resorts

New look GVC shows its digital muscle as governance targets growth on global scale

Publishing its interim 2018 results (six-month period ending 30 June), FTSE-listed GVC Holdings displays its enlarged capacity as digital and European growth helps override tough UK retail trading conditions. Presenting its first report incorporating the assets of Ladbrokes Coral (acquisition officially completed on 28 March 2018), GVC records group revenues of £1.1 billion. In its report, GVC governance highlights its …

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GVC and MGM joint venture elevates mobile betting in New Jersey

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Through the pair’s recently announced US sports betting venture, GVC Holdings PLC and MGM Resorts International have expanded New Jersey’s mobile sports betting opportunities, with the launch of playMGM. The playMGM NJ Sports betting app provides markets on a full range of US and selected international sports with customers able to sign-up, deposit and withdraw money directly from their mobile …

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‘Changing Times’… MGM Resorts secures historic NBA partnership

MGM Resorts International announces its second major partnership of the week, confirming that its has secured a ‘first of a kind’ sports betting arrangement with National Basketball Association (NBA). NBA Chief Commissioner Adam Silver and MGM Resorts President & CEO Jim Murren announced the partnership this afternoon in New York city. For the first time, the NBA will open its …

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GVC & MGM to create “one of a kind” platform for US expansion

As anticipated FTSE-listed GVC Holdings has this morning confirmed the establishment of its 50-50 US joint venture with MGM Resorts International (MGM). Updating the market, GVC governance states that the joint-venture will significantly expand its US position granting direct access to regulated US states, with both venture parties securing ‘meaningful early mover advantages.’ “With a proven track record as partners-of-choice, …

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GVC Holdings to unveil ‘MGM Masterstroke’ next week

Sky News has this morning reported that FTSE-listed gambling group GVC Holdings is set to unveil it’s $/£ multi-million US strategic partnership with MGM Resorts International next week. According to city insiders, GVC governance is finalising plans on a long-term 50-50 joint venture with MGM Resorts, considered the US’ largest casino operator. Both parties will commit an initial $100 million …

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Penn’s Tim Wilmott leads ‘AGA search committee’ for next leader

US industry trade group the American Gaming Association (AGA) has established a seven-strong ‘search committee’ to assist with the leadership replacement of Geoff Freeman, who ends his 5-year CEO tenure to join America’s Grocery Manufacturers Association (AGMA) at the end of July.  The AGA’s search committee will be led by Penn National Gaming Chief Executive Tim Wilmott, who seeks to find …

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MGM hires Scott Butera to lead US sports betting vision

New York-listed gambling and leisure group MGM Resorts International, has confirmed the executive appointment of Scott Butera as new President of Interactive Gaming. A 25-year gambling and hospitality leadership veteran, Butera has formerly served as President of Foxwoods Resorts and as Commissioner of the Arena Football League. In its corporate update, MGM governance details that Butera will be primarily tasked …

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IGT expands MGM Resorts betting contract servicing Atlantic City Borgata

MGM Resorts International’s New Jersey property the Borgata Hotel Casino & Spa will have its sports betting systems and terminals powered by industry technology provider IGT Group. Issuing a market update, New York-listed IGT Group confirms that it has secured the retail betting systems contract to service MGM Resorts Atlantic City property. Both parties have a prior relationship, with IGT …

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Boyd Gaming sells 50% stake in Borgata to MGM International

US casino and leisure operator Boyd Gaming Corporation (Boyd) has agreed to sell its 50% stake in Atlantic City’s Borgata casino complex to MGM Resorts International (MGM) for a reported $900 million. Boyd’s stake is set to be acquired by MGM property subsidiary ‘MGM Growth Properties’ with the deal expected to be completed by Q3 2016. MGM will take over …

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MGM Resorts sells Reno assets to Eldorado Inc

Nevada based MGM Resorts International has announced that it has completed the sale of Reno leisure/gambling asset Circus Casino and its 50% stake in the Silver Legacy Resort to Eldorado Resorts Inc. First agreed in July, the transaction sees Eldorado pay $73 million in cash for the combined assets. Eldorado are further set to commit $8 million in working capital …

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