MGM Resorts International enters into JV with GVC Holdings Plc for online betting platform in U.S

The deal comes ahead of the crucial upcoming American football season.

On Monday, GVC Holdings Plc has agreed to enter into a joint venture with MGM Resorts International, a U.S. hotel and casino operator, to set up an online betting platform in the U.S. ahead of the upcoming American football season.

Initially, GVC Holdings Plc and MGM Resorts International will invest $100 million each in the joint venture, which will be headquartered in the U.S., said GVC which owns the Sportingbet, Coral, and Ladbrokes brands.

Following the U.S. Supreme Court legalizing sports betting in the country, GVC has grown rapidly through quick acquisitions, which include the purchase of Ladbrokes in 2017.

Last Friday, GVC said it was in advanced talks with MGM regarding the joint venture.

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