MGM GVC Interactive, the joint venture between MGM Resorts International and GVC Holdings, has officially signed a partnership with California’s United Auburn Indian Community (UAIC).
The tribe had previously partnered with GVC-owned bwin party for online poker back in May 2012, pending a change in California legislation which is yet to occur.
Similar to that agreement, the MGM GVC deal can only be implemented if and when state law permits sports betting.
Described as a first-of-its-kind partnership, the JV would provide its iconic brands and proprietary technology to enable UAIC’s Thunder Valley Casino Resort to offer retail and mobile sports betting, as well as online casino and poker if permitted under state law.
"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 UAIC chairman Gene Whitehouse.
GVC director of corporate development and strategy Adam Greenblatt 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."
Shares in GVC Holdings (LSE:GVC) closed down 3.8 per cent at 887.00 pence per share in London Monday, while shares in MGM Resorts International (NSQ:MGM) closed unchanged at $26.47 per share in New York.