Casino operator MGM Resorts International is seeking sports betting opportunities in the lucrative US Indian tribal gaming market for its MGM-GVC Interactive joint venture.
MGM Resorts has retained California-based TFA Capital Partners, a specialist investment banking firm focused on tribal affairs, as a strategic advisor to assist the company in identifying opportunities to develop tribal sports betting partnerships.
TFA has extensive relationships throughout Indian Country, and will assist the MGM-GVC joint venture in providing Tribal Nations with a turnkey omni-channel sports betting solution.
"We are excited to bring TFA aboard as sports betting continues to roll out across the United States," said MGM Resorts president of interactive gaming Scott Butera. "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."
Shares in MGM Resorts International (NSQ:MGM) closed down 3.64 per cent at $27.00 per share in New York Tuesday, while shares in GVC Holdings plc (LSE:GVC) were trading up 0.21 per cent at 730.50 pence per share in London Wednesday, having set a new 52-week low of 707.50 pence earlier in the day.