MGM Resorts is planning to keep TFA Capital Partners as its advisor as part of the upcoming joint-venture developed in collaboration with GVC Holdings
MGM Resorts Keeps TFA Capital Partners as Advisor
MGM Resorts and GVC Holdings have been pushing ahead with their partnership to conquer sports betting in the United States. Amid the rapid expansion expected across the entire country, this is not a surprising move at all, with the US slated to become the second most-dominant market by 2030.
While expansion will be focused in only half of the country’s states, MGM Resorts wants to ensure that it will continue to grow its tribal client base. One way to makes sure this is by retaining TFA Capital Partners as its strategic advisor.
TFA is an investment bank that specializes in the exact sector that MGM Resorts caters to, and the arrival of the MGM/GVC joint-venture will most certainly need to use the services of an established expert with keen insight in the gaming industry.
— MGM Resorts (@MGMResortsIntl) July 31, 2018
Meanwhile, the deal between the two gaming giants has been significant in all senses of the word. The new entity will effectively spread the sports betting offer of the companies brought under the same roof. Their products will feature general sports betting, independent betting terminals for gamers to manage their own bets, and naturally – mobile betting solutions, which have been gaining significant traction across the country.
Taking the Partnership One Step Further
MGM/GVC will not be content with just bringing more gamers on board and expanding their product to new markets. They want to strike additional deals with established sporting bodies, including the NBA and MLB (with which some agreements are already in place).
This is feasible as organizations that promote sports in the United States are already becoming cognizant of the solid windfall that similar partnership can bring for everyone involved.
It’s in this context that MGM Resorts president for interactive gaming Scott Butera highlighted the importance of keeping TFA onboard.
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.
MGM/GVC has been expanding ahead of events. In October, the company struck up a partnership with the United Auburn Indian Community (UAIC) even though the state of California has not yet approved any gambling and betting activities on its territory.
However, MGM/GVC has seen a chance to partner with a large company that is exempt from most of the pesky regulations that apply for regular properties. With 3,000 slot and video machines to their portfolio, United Auburn Indian Community definitely have a lot to offer.
MGM/GVC will help the Thunder Valley Casino Resort, where these products are located, to up the ante tech-wise by bringing needed mobile sports betting as well as help build the platforms for online poker and by extension – online casinos.
Involvement by TFA has never been more sorely needed.