Connect with us
SIS

Gambling in the USA

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

George Miller

Published

on

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.

Continue Reading
Advertisement
Comments

Gambling in the USA

Legislators discuss bill to legalise sports betting in Montana

Niji Narayan

Published

on

Legislators discuss bill to legalise sports betting in Montana
Reading Time: 1 minute

 

Members of a legislative committee discussed a bill to legalise betting on college and professional sporting events in Montana. The bill proposes to allow betting in bars with full liquor licenses.

The bill is proposed by Republican Sen. Mark Blasdel of Kalispell after the 2018 U.S. Supreme Court ruling that allows states to legalise sports gambling.

Supporters told the Montana Senate Business, Labour and Economic Affairs committee that passing the bill would allow the state to legalise, regulate, and tax activity that is already happening.

The computerised wagering would be run by sportsbook companies that install equipment in bars. The bill calls for bars to receive 5 per cent of the net sportsbook income derived from the premises while operators would pay an 8.5 per cent state tax on adjusted gross betting receipts.

The committee did not vote on the bill which was drafted in consultation with the state Department of Justice, companies that provide gambling machines to casinos, and the Montana Tavern Association.

If passed, it would not take effect until June 2020, giving the state time to write rules and taverns time to install and test machines, Blaisdel said.

If problems arise, Blaisdel said, the Legislature would be back in session in six months and could address them.

Continue Reading

Gambling in the USA

William Hill US contributes $50,000 in New Jersey

Niji Narayan

Published

on

William Hill US contributes $50,000 in New Jersey
Reading Time: 1 minute

 

William Hill, America’s premier sportsbook operator, has donated $50,000 to the Council on Compulsive Gambling of NJ. This fund helps conduct a campaign that supports people with gambling problems.

The campaign will produce an educational video that shows the family of a problem gambler and directs them to helpful resources. The video will be distributed online and via social media and promoted through ads on TV, on the radio, online and in movie theatres.

“We are proud to partner with the Council on Compulsive Gambling of New Jersey on bringing attention to this extremely important issue,” said Joe Asher, CEO of William Hill U.S. “When we settled a lawsuit recently, we said a portion of the proceeds would go to an organization that supports people with gambling problems. The Council on Compulsive Gambling of New Jersey saw the article about our intentions and reached out to us. We spent a lot of time working on best use and we decided to focus on reaching out to family members of those with a gambling problem. I know from personal experience that family members of problem gamblers can help push those that need help to seeking it.”

Continue Reading

Gambling in the USA

NY Governor declares himself “not a fan” of online sports betting

Niji Narayan

Published

on

NY Governor declares himself “not a fan” of online sports betting
Photo Source: newsday.com
Reading Time: 1 minute

 

New York governor Andrew M. Cuomo has categorically stated during WAMC News that he is “not a fan” online sports betting. He also downplayed the economic gains that could come with mobile wagering in New York.

The state regulators have already approved legislation for allowing sports gambling at Native American-owned casinos and the four private gaming halls upstate, including Rivers Casino & Resort in Schenectady.

Cuomo described the plan as an attempt to “fortify” the upstate casinos.

The limited blueprint, which will soon be subject to a 60-day public comment period, is based on the restrictive gambling language in the state constitution.

“If we want to expand it beyond the land-based casinos … we need a constitutional amendment,” state Budget Director Robert Mujica told reporters when the state budget was revealed in January.

Despite this interpretation, industry stakeholders and some state legislators are still pushing for online sports wagering.

The budget resolution approved by Senate Democrats last week would allow the full-scale upstate casinos to offer sports gambling online. Other gambling operators — including off-track betting corporations, the New York Racing Association and the video lottery terminal parlors known as racinos — would still be excluded from participating.

Continue Reading
Advertisement
NSoft

Global Gaming Industry Newsletter – Weekly Digest (sent every Wednesday)

Please select all the ways you would like to hear from European Gaming Media and Events:

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here. Read more about European Gaming Media and Event's Privacy Policy and Terms of Service.

Subscribe to our News via Email

Enter your email address to subscribe to our news and receive notifications of new posts by email.

Latest by author

Trending

Notice for AdBlock users

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.