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MGM-GVC Joint Venture Announce First Partner in Indian Community

 

MGM GVC Interactive LLC, the joint venture owned by MGM Resorts International (NYSE: MGM) and GVC Holdings PLC (LSE: GVC), has partnered with the United Auburn Indian Community (UAIC) in a first-of-its-kind partnership for the joint venture in both California and with the Indian Community.

The agreement follows the recent decision by the U.S. Supreme Court to overturn PASPA (the Professional and Amateur Sports Protection Act), authorizing individual states to introduce legislation enabling intrastate sports betting.  As the operator of Thunder Valley Casino Resort, UAIC represents an ideal initial partner for MGM-GVC in California, providing access to the U.S.’s largest state by population, if and when state law permits sports betting.

“It is not yet clear if California will authorize sports betting or interactive games generally, but with the overturn of PASPA possibly opening the door for sports betting, our Tribe wants to be well-situated, and this agreement with the national leader in the field does just that,” said Gene Whitehouse, Chairman of UAIC.

Under the terms of the partnership, MGM-GVC would provide its iconic brands and proprietary technology to enable UAIC to offer retail and mobile sports betting and online casino and poker if and when any are permitted under state law.

For UAIC, the agreement aligns the Tribe with a best-in-class partner that brings unmatched brands, databases, professional sports league partnerships (including the recently announced partnership with the NBA) and unparalleled proprietary sports betting technology.

“We are excited to have a partner the caliber of UAIC as our first partner for MGM-GVC in Indian Country,” said MGM President of Interactive Gaming, Scott Butera.

Adam Greenblatt, GVC Director of Corporate Development and Strategy added, “We greatly admire the success the UAIC has had with its Thunder Valley Casino Resort, and look forward to adding to that success. The potential of this partnership is significant for MGM-GVC.”

 

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 licences in more than 20 countries, across five continents.

ABOUT UAIC:
The United Auburn Indian Community (UAIC) is a federally recognized Indian tribe, comprised of both Miwok and Maidu Indians.  The historic Auburn Rancheria is located in the Sierra Nevada foothills near Auburn, California. The Tribe operates as a sovereign nation and is governed by its Tribal Council, which consists of the chairperson, vice-chairperson, treasurer, secretary and council member at large.

The UAIC opened Thunder Valley Casino Resort in June 2003. Located 30 miles east of Sacramento, Thunder Valley offers 270,000 square feet of gaming space – including over 3,400 slot and video machines, 103 table games and a live poker room with space for 450 players. Thunder Valley has 14 restaurants and bars, including High Steaks Steakhouse, Red Lantern and a 500-seat Buffet as well as Mingle Bar, Falls Bar, Thunder Bar and High Steaks Bar. Thunder Valley Casino Resort is also home to a luxury, 17-story hotel with 408 rooms, including 40 suites and an expansive outdoor pool complete with private cabanas and Coconut, a poolside bar.

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. MGM Resorts has based forward-looking statements 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 expected benefits to be achieved as a result of the partnership agreement. 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 MGM Resorts operates and competition with other destination travel locations throughout the United States and the world, the design, timing and costs of expansion projects, risks relating to international operations, 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

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