MGM Resorts inks Second Deal, Now with Boyd Gaming
MGM Resorts has announced another new deal, this time with Boyd Gaming. This landmark partnership will allow both firms to offer online gambling in states where either party has a land-based casino, provided online gambling is legal. The deal has the potential to significantly benefit both Boyd Gaming and MGM Resorts going forward.
Deal will Give MGM Resorts and Boyd Greater Presence
With the deal in place, both firms should be able to expand their presence in states where online and mobile gambling is legal. As this market grows, both companies will benefit even more. The deal signed between MGM and Boyd includes online casinos, online poker, and sports betting.
Currently, MGM is present in seven different states. This will increase to eight once the firm completes its purchase of New York’s Empire City Casino. Boyd Gaming adds an additional seven states, meaning that together, the two companies will be able to operate in 15 states. Many of these states have either legalized sports betting or should be doing so in the future.
MGM-Boyd Deal Good for GVC As Well
Both MGM and Boyd Gaming will be able to increase their customer base. In addition to this, it will allow the firms to compete in the new sports betting market more effectively. The main competition for the firms will be Penn National and Caesars, which are established in 15 and 13 states respectively.
The new deal comes just days after MGM Resorts announced a joint venture with GVS Holdings, a UK company that owns the likes of Ladbrokes Coral. MGM and GVC have entered into a $200 million deal to create a top-quality sports betting and online gaming platform for the American market. The new deal with Boyd Gaming will be great news for GVC as well, as their partnership with MGM stands to be even more successful.