GVC Holdings and MGM Resorts consider mega deal
The company could announce a mega deal with the Las Vegas company as soon as today.
US.- GVC Holdings is reportedly in talks with MGM Resorts International to close a US$200 million deal that would pave the way for a mega merger between the two companies. The owner of GVC has confirmed that a joint venture could be announced today.
A spokesman for the owner of Ladbrokes and Coral said that “discussions are at an advanced stage” and that they will update the market when appropriate. The deal includes a commitment of around 25 years and an option to buy each other out after ten years. While the agreement is not a full-blown merger, a source told Sky News that it is logical to assume that a successful pairing could lead to one.
GVC and MGM Resorts would each put in an initial US$100 million as part of a 50/50 joint venture focused on sports betting in the US. While MGM refused to comment on the deal, it would not be the first between the two companies, as they already have an alliance in New Jersey under the playMGM brand.
