MGM GVC Interactive Believes Strategic Tribal Gaming Partnerships Hold Key to Sports Betting Domination
Posted on: December 5, 2018, 10:02h.
Last updated on: December 5, 2018, 10:02h.
MGM Resorts and GVC Holdings are venturing deeper into Indian Country in their hunt for sports betting partnerships.
The two operators — collectively known as MGM GVC Interactive?— announced Tuesday they had retained the services of California-based TFA Capital Partners, an investment banking firm focused on providing strategic and financial advisory services to Native American tribes.
In October, MGM GVC Interactive signed a deal to provide sports betting operations to the United Auburn Indian Community (UAIC) in the event that California legalizes sports betting.
MGM has realized that the route to dominance of the emerging US sports betting market lies in being not just an operator but also a supplier of sports book services and technology to casinos across the US.
More Than Half Land-Based Market is Tribal
Native American casinos will comprise a huge segment of a mature US sports betting market. According to National Indian Gaming Commission Statistics, in 2015, there were 474 Indian gaming facilities in the US, owned by 283 separate tribes across the country.
The latest statistics from the American Gaming Association show that are a similar number of commercial casinos in the US — 460, as of 2017.
In California alone, there are 55 tribal operators and 69 casinos, and MGM GVC wants to lock up those deals before its competitors do. While California is currently some way from legalizing sports betting, it is expected to do so within the next five years.
MGM Resorts’ President of Interactive Gaming, Scott Butera, said in an official statement that sports betting represented “a significant opportunity for both the Tribal Nations.”
Butera added that MGM GVC looked forward to working with TFA to “develop mutually beneficial relationships that offer the joint venture entry into new markets,” while “providing our tribal nation partners with additional capabilities and resources to drive incremental demand to their casino properties.”
Early Movers
MGM and GVC announced their partnership in July. Each company invested $100 million into the joint venture to help build “a world-class sports betting and online gaming platform” which would have “meaningful early mover advantages.”
GVC is the owner of Ladbrokes Coral, the UK’s biggest retail bookmaker, as well as the bwin, Sportingbet and partypoker brands.
According to Tuesday’s media release, the MGM GVC solution includes sports betting self-service kiosks, mobile sports betting products, marketing and operating consultation, premier odds setting/trading/risk management services, as well as employee training and operational readiness assessments.
It will also give its clients to access to the MGM brand and database, as well as the branding of MGM’s official sports betting partners, the NBA, MLB, and NHL.
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Last Comment ( 1 )
No such thing under our United States Constitution as "Indian country!" This whole “Indian tribal” thing is a plain fraud upon the United States Constitution. It never ceases to amaze me how easy it is for politicians-state and federal-to dumb down as gullible non-Indian U.S./State citizens into believing that they-politicians-can pass statute law that regulates from the womb to the tomb the health, welfare, safety, benefits, capacities, metes and boundaries of a select group of U.S./State citizens made distinguishable from all other non-Indian U.S./State citizens because of their "Indian ancestry/race" at the same time the Constitution’s 14th Amendment’s ‘equal protection’ foreclosed the very same politicians from enacting statute law regulating from the womb to the tomb the health, welfare, safety, benefits, capacities, metes and boundaries for select group of U.S./State citizens with 'slave ancestry/race' all without a shred of Constitutional authority to do so. To date, no politician-state or federal-has answered this question…a question so simple, it is hard: “Where is the proclamation ratified by the voters of the United States that amends the United States Constitution to make the health, welfare, safety and benefits of a select group of U.S./State citizens distinguishable because of their Indian ancestry/race?”