{"id":10927,"date":"2018-07-28T15:21:45","date_gmt":"2018-07-28T15:21:45","guid":{"rendered":"https:\/\/www.pokerscout.com\/?p=10927"},"modified":"2018-07-29T13:16:59","modified_gmt":"2018-07-29T13:16:59","slug":"mgm-and-ladbrokes-are-about-to-become-a-sports-betting-behemoth","status":"publish","type":"post","link":"https:\/\/www.pokerscout.com\/mgm-and-ladbrokes-are-about-to-become-a-sports-betting-behemoth\/","title":{"rendered":"MGM And Ladbrokes Are About To Become A Sports Betting Behemoth"},"content":{"rendered":"

Since May 14, the deals partnering up casinos, software companies, DFS sites, and sports betting<\/strong> operators seem to be announced every other day.<\/p>\n

This latest deal is arguably the biggest of them all though<\/strong>.<\/p>\n

According to Sky News<\/strong><\/a>, MGM Resorts<\/strong> is teaming up with one of the biggest European sports betting operations, Ladbrokes<\/strong>. GVC\u00a0Holdings<\/strong> is Ladbrokes\u2019 parent company, thanks to a deal that closed earlier this year<\/a>. Shortly after news broke, GVC\u00a0confirmed the story by issuing the following statement:<\/p>\n

\u201cThe Group can confirm that discussions are at an advanced stage regarding such a joint venture and will update the market when appropriate.\u201d<\/p><\/blockquote>\n

The joint venture in the two groups is said to be a $200 million project<\/strong>. The Sky report says the deal is likely a 50-50 venture<\/strong>, with each group putting up $100 million.<\/p>\n

How strong are MGM\u2019s sports betting prospects?<\/p>\n

In addition to its 13 properties in Las Vegas, MGM has a presence in four other states, with two more on the way. Each state is in the process of legalizing or launching sports betting. Here is a look at each state and MGM\u2019s holdings:<\/p>\n\n\n\n\n\n\n\n\n\n\n
State<\/th>\nSports betting status<\/th>\nProperties<\/th>\n<\/tr>\n<\/thead>\n
Michigan<\/strong><\/td>\nLegislative effort still alive in 2018<\/td>\nMGM Grand Detroit<\/td>\n<\/tr>\n
Maryland<\/strong><\/td>\nEarly discussion, expect legislation in 2019<\/td>\nMGM National Harbor<\/td>\n<\/tr>\n
Mississippi<\/strong><\/td>\nLegalized and launching soon<\/td>\nBeau Rivage and Gold Strike<\/td>\n<\/tr>\n
New Jersey<\/strong><\/td>\nLaunched on June 14<\/td>\nBorgata<\/td>\n<\/tr>\n
New York<\/strong><\/td>\nMajor legislative push expected in 2019<\/td>\nRecently purchased Empire City Casino<\/td>\n<\/tr>\n
Massachusetts<\/strong><\/td>\nBill expected in 2019<\/td>\nMGM Springfield opening on Aug. 24<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The two companies have not revealed details of the finalized deal yet, but there will likely be a formal announcement next week.<\/p>\n

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        What MGM and Ladbrokes bring to the table<\/span><\/h2>\n

        MGM is the largest casino company in the world. Leveraging the MGM brand and the company\u2019s portfolio of properties should position the venture to be one of the top players<\/strong> in the industry.<\/p>\n

        Ladbrokes brings its sports betting expertise as well as platforms for mobile and brick and mortar betting.<\/p>\n

        It is worth noting, MGM is already involved<\/strong> in sports betting in both Nevada<\/strong> and New Jersey<\/strong>. In Nevada, the company was a very small player in the mobile betting industry<\/strong>. However, it was first to market along with Monmouth Park<\/strong> when wagering launched in New Jersey last month.<\/p>\n

        The Borgata sportsbook brought in almost $1 million<\/strong> in its first two weeks. Monmouth Park fared much better, taking in $2.2 million<\/strong>.<\/p>\n

        GVC\u2019s rumored deal with Valley Forge Casino<\/span><\/h2>\n

        It appears MGM is not the only US company GVC\u00a0has talked with about sports betting either. While not confirmed, rumors suggest GVC\u00a0will be part of Valley Forge Casino\u2019s<\/strong> online gambling plans.<\/p>\n

        The Pennsylvania casino<\/strong> was one of nine companies that applied for a $10 million<\/strong> interactive gaming license. If granted, Valley Forge would be able to offer poker, table games, and slots online.<\/p>\n

        What could throw a wrench in this potential partnership is Boyd Gaming<\/strong>. The company announced its $280 million acquisition<\/strong> of Valley Forge. That deal is not final yet. It is unclear how Boyd will treat the potential partnership.<\/p>\n

        It\u2019s worth noting that MGM has a presence in many states, but Pennsylvania is not<\/strong> one of them.<\/p>\n

        Photo by\u00a0Barry Barnes\u00a0\/\u00a0Shutterstock.com<\/em><\/p>\n

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        The post MGM And Ladbrokes Are About To Become A Sports Betting Behemoth appeared first on Play USA.<\/p>\n","protected":false},"excerpt":{"rendered":"

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