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MGM GVC Interactive Announces the Appointment of Adam Greenblatt as Chief Executive Officer of Joint Venture

George Miller

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MGM GVC Interactive Announces the Appointment of Adam Greenblatt as Chief Executive Officer of Joint Venture
Photo Source: verowater.com
Reading Time: 3 minutes

 

MGM GVC Interactive LLC, the U.S. sports betting and online gaming joint venture owned by MGM Resorts International and GVC Holdings Plc , is pleased to announce the appointment of Adam Greenblatt as the venture’s CEO, effective upon receipt of all applicable licensing and regulatory approvals.

Adam takes up the position having played a significant role in the creation of MGM GVC Interactive via his previous role as Director Corporate Development & Strategy at GVC Holdings. The joint venture was established in July 2018 to create a world-class sports betting and online gaming platform in the United States, in order to take advantage of the new opportunities created by the U.S. Supreme Court’s decision to overturn the U.S. federal Professional and Amateur Sports Protection Act (PASPA).

Prior to its acquisition by GVC, Adam served as Director of Corporate and Strategic Development at Ladbrokes from 2010 and led defining transactions for the group, including the strategic partnership with Playtech, the acquisitions which created Ladbrokes Australia and the successful merger between Gala Coral and Ladbrokes in November 2016. Adam has been President of GVC’s U.S. sports betting software business, Stadium Technology since 2012 and sits on the Board of GVC’s joint venture in Spain. Having begun his career as a Chartered Accountant in the UK with Arthur Andersen, Adam then moved into mergers and acquisitions at international investment bank, Rothschild. At Rothschild, Adam focused on the leisure sector and was instrumental in developing the betting and gaming franchise. Adam studied Business Science at the University of Cape Town.

In a joint statement welcoming the appointment, GVC CEO, Kenneth Alexander and Jim Murren, Chairman and Chief Executive Officer of MGM Resorts, said:

“We are pleased to appoint Adam as CEO of the joint venture, who will bring his in-depth knowledge and expertise in on-line gaming and sports betting from both sides of the Atlantic. His determination, experience and vision are exactly what we need to establish a prime position in the rapidly evolving U.S. gaming market.”

Adam Greenblatt added:

“I am delighted to have been chosen to lead MGM GVC Interactive at this historic time for the U.S. sports betting and gaming sector. With the combined brands, technology and market access of our two parent companies, I am determined to make it the most dynamic and successful player in the industry.”

 

ABOUT MGM RESORTS INTERNATIONAL

MGM Resorts International is an S&P 500® global entertainment company with national and international locations featuring best-in-class hotels and casinos, state-of-the-art meetings and conference spaces, incredible live and theatrical entertainment experiences, and an extensive array of restaurant, nightlife and retail offerings. MGM Resorts creates immersive, iconic experiences through its suite of Las Vegas-inspired brands. The MGM Resorts portfolio encompasses 28 unique hotel offerings including some of the most recognizable resort brands in the industry. Expanding throughout the U.S. and around the world, the company in 2018 opened MGM Springfield in Massachusetts, MGM COTAI in Macau, and the first Bellagio-branded hotel in Shanghai. The 81,000 global employees of MGM Resorts are proud of their company for being recognized as one of FORTUNE® Magazine’s World’s Most Admired Companies®. For more information visit us at www.mgmresorts.com.

 

ABOUT GVC HOLDINGS

GVC Holdings PLC is one of the world’s largest sports betting and gaming groups, operating both online and in the retail sector. The Group owns a comprehensive portfolio of established brands; Sports Brands include bwin, Coral, Crystalbet, Eurobet, Ladbrokes and Sportingbet; Gaming Brands include CasinoClub, Foxy Bingo, Gala, Gioco Digitale, PartyCasino and partypoker. The Group owns proprietary technology across all of its core product verticals and in addition to its B2C operations provides services to a number of third-party customers on a B2B basis. GVC acquired Ladbrokes Coral Group plc on 28 March 2018 and is now the UK’s largest high street bookmaker, with over 3,500 betting shops. The Group, incorporated in the Isle of Man, is a constituent of the FTSE 100 index and has licences in more than 20 countries, across five continents.

 

Statements in this release that are not historical facts are “forward-looking” statements and “safe harbor statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and/or uncertainties, including those described in MGM Resorts’ public filings with the SEC. Forward-looking statements are based on management’s current expectations and assumptions and not on historical facts.  Examples of these statements include, but are not limited to, statements regarding the future market position of the joint venture. Among the important factors that could cause actual results to differ materially from those indicated in such forward-looking statements include effects of economic conditions and market conditions in the markets in which the joint venture operates and competition with other sports betting platforms, risks relating to permits, licenses, financings, approvals and other contingencies in connection with growth in new or existing jurisdictions and additional risks and uncertainties described in MGM Resorts’ Form 10-K, Form 10-Q and Form 8-K reports (including all amendments to those reports). In providing forward-looking statements, MGM Resorts is not undertaking any duty or obligation to update these statements publicly as a result of new information, future events or otherwise, except as required by law. If MGM Resorts updates one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those other forward-looking statements.

 

Source:  MGM Resorts International

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Gambling in the USA

Foxwoods Resort Casino Reports 12% Decline in April Slot Revenue

Niji Narayan

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Foxwoods Resort Casino Reports 12% Decline in April Slot Revenue
Photo Source: jcj.com
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Foxwoods Resort Casino has reported slot revenue of $36.2 million for April 2019. This figure is down 12.1% compared to $41.2 million in April 2018.

Foxwoods kicked April off with the property’s new designated ambassador David Ortiz and the home-run gaming promotion Big Papi’s Favourite Things. From 12 April through 30 May, guests simply play their favourite casino games using their Foxwoods Rewards card to participate. For every two points earned, players receive one entry into the drawing for a chance to win prizes ranging from $500 in bonus slot play to the grand prize trip for two to the Dominican Republic to attend Big Papi’s Charity Golf Tournament.

April also brought excitement to the Grand and Fox Theatre stages, including the return of the Foxwoods Broadway Series as it celebrated the 10th anniversary tour of Rock of Ages.

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Gambling in the USA

Philadelphia State Regulators Impose Fine on SugarHouse Casino

Niji Narayan

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Philadelphia State Regulators Impose Fine on SugarHouse Casino
Photo Source: standard.co.uk
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The Philadelphia state regulators have imposed a fine of $17,500 on SugarHouse casino for serving 17 free drinks to a gambler over an eight-hour period.

According to the officials, the patron was playing Pai Gow, a table game with Chinese tiles similar to blackjack, and he was visibly intoxicated while gambling.

As per the casino’s consent agreement with the Pennsylvania Gaming Control Board, it wasn’t until the gambler couldn’t hold up his head anymore that a supervisor stopped him from getting more drinks and summoned security.

An altercation occurred as the patron was evicted from the casino, and he was arrested for public drunkenness. SugarHouse agreed to retrain and discipline the beverage servers in addition to the fine.

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Gambling in the USA

Legislators from Gaming States to Examine Sports Betting at NCLGS Summer Meeting, July 12-14 in Minneapolis

George Miller

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Legislators from Gaming States to Examine Sports Betting at NCLGS Summer Meeting, July 12-14 in Minneapolis
Reading Time: 2 minutes

 

When the Summer Meeting of the National Council of Legislators from Gaming States begins, there will be a full year of results from two states and many months’ of results from at least four other states in the post-PASPA world of legal sports betting. The results and lessons from these early adopters will be the focus of the Committee on Emerging Forms of Gaming when NCLGS holds its Summer Meeting, July 12-14 at the Radisson Blu Downtown.

The Committee, chaired by Indiana Senator Jon Ford, will hear from the following experts:

  • Kevin Braig, Partner, Shumaker, Loop & Kendrick LLP
  • Steve Geller, NCLGS Legal Advisor and Principal, Geller Law Firm
  • Nicole Metzgar-Schall, Corporate Counsel, Sportradar
  • Dan Spillane, Senior Vice President, League Governance & Policy, National Basketball Association

Aspects of sports betting will be also be central to other NCLGS Summer Meeting committee sessions and panels, including the Committee on Responsible Gaming, the Committee on Lotteries, the Committee on State-Federal Relations, and an International Masters of Gaming Law Masterclass.

“Being from Indiana, a state that has just passed sports betting, our focus is on making sure that the state benefits in the best way possible for our constituents. It is our job to get this right,” said Senator Ford, who is also a NCLGS officer. “We can learn from where other states have gotten it right and when they might have stumbled. We can get ahead of the curb thanks to those who came before us and gave us the blueprint.”

The three-day NCLGS Summer Meeting agenda includes:

  • Six legislative committee sessions: Casinos, Emerging Forms of Gaming, Indian Gaming, Lotteries, Responsible Gaming, and State-Federal Relations
  • Keynote Luncheon Address: “The Next Five Years of Gaming,” by Timothy Wilmott, CEO, Penn National Gaming, and Chairman, American Gaming Association
  • Two IMGL Masterclass panels conducted by the International Masters of Gaming Law focusing on state lottery technology and the multiple crossover regulatory and legal issues
  • Special general session panel examining gaming’s evolution toward entertainment
  • Thursday evening cocktail reception
  • Friday evening welcome reception
  • Saturday afternoon tour of Sportradar offices

To view the agenda, register, and book rooms at the host hotel at special attendee rates, visit http://www.nclgs.org/meetings.html.

 

Source: National Council of Legislators from Gaming States

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