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MGM Resorts International Retains TFA Capital Partners As Strategic Advisor For Development Of Key Tribal Sports Betting Partnerships

Zoltan Tundik

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Photo by rawpixel.com from Pexels
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The MGM-GVC joint venture offers a turn-key solution for Tribal Nations to drive casino visitation uplift and benefit from economic opportunities via sports betting

MGM Resorts International (NYSE: MGM) (“MGM Resorts” or the “Company”) has retained TFA Capital Partners (“TFA”) to assist the Company in identifying opportunities for sports betting partnerships with Tribal Nations throughout Indian Country.

TFA has extensive relationships throughout Indian Country, and with TFA’s assistance, the MGM-GVC joint venture hopes to provide Tribal Nations with a turn-key customizable omni-channel sports betting solution that includes:

  • Over-the-counter sports betting, self-service kiosks and mobile sports betting products powered by the joint venture’s proprietary end-to-end technology;
  • Premier odds setting/trading/risk management services;
  • Design, marketing and operating consultation;
  • Ability to leverage the iconic MGM brand and database, which is expected to grow with the recently-announced League partnerships with the NBA, MLB, NHL and Alliance of American Football; and
  • Employee training and operational readiness assessments.

“We are excited to bring TFA aboard as sports betting continues to roll out across the United States,” said Scott Butera, MGM Resorts’ President of Interactive Gaming. “Sports betting represents a significant opportunity for both the Tribal Nations and the MGM-GVC joint venture. We look forward to working with the TFA team 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.”

ABOUT MGM RESORTS INTERNATIONAL

MGM Resorts International (NYSE: MGM) 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 licenses in more than 20 countries, across five continents.

ABOUT TFA CAPITAL PARTNERS

TFA Capital Partners is a specialized investment banking firm focused in Indian Country.  The company provides capital raising, strategic and financial advisory services to Tribes, their enterprises as well as to commercial entities that do business with Tribes.  TFACP is headquartered in El Segundo, California, with an office in Charlotte, North Carolina.

SOURCE MGM Resorts International

After starting out as an affiliate in 2009 and developing some recognized review portals, I have moved deeper into journalism and media. My experience has lead me to move into the B2B sector and write about compliance updates and report around the happenings of the online and land based gaming sector.

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Compliance Updates

PGCB Imposes Fine Totalling US$242k on Two Casino Operators

Niji Narayan

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PGCB Imposes Fine Totalling US$242k on Two Casino Operators
Photo Source: pennsylvaniacasinos.com
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The Pennsylvania Gaming Control Board (PGCB) has imposed the fines totalling US$242k against two casino operators.

Sands Bethworks Gaming, LLC, operator of the Sands Casino Resort in Northampton County, received separate fines of US$120k for underage gaming violations and a second for US$110k regarding the awarding of free slot play. The fine stemmed from 11 incidents in which individuals under the age of 21 accessed the gaming floor.

The second fine was issued for permitting the issuance of free slot play by employees who were not authorised to do so and/or issuing free slot play of amounts above authorised levels.

Washington Trotting Association, LLC, operator of the Meadows Racetrack and Casino in Washington County, received a US$12.5k fine for an underage gaming violation. This fine stemmed from an 18-year-old male gaining access onto the gaming floor, wagering at table games and being served alcohol.

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Gambling in the USA

Bet365–EML Partnership to Launch Prepaid Credit Card in New Jersey

Niji Narayan

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Bet365–EML Partnership to Launch Prepaid Credit Card in New Jersey
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Bet365, the UK based online gambling company, has partnered with EML Payments to develop a new prepaid credit card in New Jersey.

The bet365 branded card will allow both deposit and withdrawal of funds from online account. The card will launch in mid-2019, subject to regulatory approval.

The agreement with EML also includes scope to expand this service into other regulated US states where bet365 may roll out its gambling services.

Bet365 is yet to launch in New Jersey but has a deal in place to do so with the Hard Rock Atlantic City casino, as revealed in a letter sent to the New Jersey Division of Gaming Enforcement (DGE). The DGE has approved the request for the two parties to enter into an agreement but bet365 is yet to begin operating in the state.

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Gambling in the USA

NetEnt signs landmark deal with DraftKings in New Jersey

George Miller

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NetEnt signs landmark deal with DraftKings in New Jersey
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NetEnt has entered into an online casino supplier agreement with DraftKings for the regulated market in New Jersey (USA).

 

NetEnt is increasing its footprint in the regulated online gambling market in New Jersey and is very proud to announce a new agreement with fast-growing operator DraftKings. In the coming weeks, a large selection of NetEnt casino games will be launched and available to DraftKings players.

“We are very excited to have landed a deal with DraftKings. As the world-leader in fantasy sports, with a large player base, they will add a new dimension to the market and we are confident that their players will enjoy our popular games,” says Erik Nyman, Managing Director NetEnt Americas LLC.

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