MGM inks 2 deals targeting U.S. sports betting market

Posted at 1:28 PM, Jul 30, 2018
and last updated 2018-08-02 09:49:57-04

ATLANTIC CITY, N.J. (AP) – The Latest on the sports betting market in the United States. (all times Eastern):
3 p.m.
Las Vegas-based MGM Resorts International has reached two key agreements with other gambling companies as the race for the newly created U.S. sports betting market heats up.
MGM announced Monday a joint venture with the United Kingdom-based owner of Ladbrokes, GVC Holdings, and a separate deal with U.S.-based regional casino operator Boyd Gaming Corp.
The venture with GVC will lead to the creation of a sports betting and online gambling platform in the U.S. that will include a mobile app and website.
The agreement with Boyd opens markets for both companies. MGM says the deal will allow the companies to offer sports betting and online wagering in 15 states where they operate casino-resorts.
Boyd will give MGM access to Indiana, Iowa, Kansas, Louisiana and other states pending the closure of planned casino purchases.
12:05 p.m.
A third Atlantic City casino is taking sports bets.
Bally’s Casino started taking sports bets at 11 a.m. Monday.
Starlette Hedgepeth of Halifax, North Carolina, placed the first bet, picking the Dallas Cowboys to win the NFC championship.
On Wednesday, Harrah’s Casino in Atlantic City also will begin taking sports bets. Both casinos are owned by Caesars Entertainment.
The Borgata and Ocean Resort casinos, and the Monmouth Park and Meadowlands race tracks already offer sports betting in New Jersey in the aftermath of a U.S. Supreme Court ruling in May that struck down a federal ban.
7 a.m.
Two Atlantic City casinos owned by Caesars Entertainment will start taking sports bets this week, and another two in Mississippi will do so in mid-August.
Caesars Entertainment tells The Associated Press its Bally’s casino in Atlantic City will start taking sports bets at 11 a.m. Monday.
Its sister casino in Atlantic City, Harrah’s will start taking sports bets on Wednesday.
The company says it soon will offer mobile sports betting, as well.
By mid-August, Harrah’s Gulf Coast in Biloxi and Horseshoe Tunica, both in Mississippi, will begin taking on-premises sports bets.
The company says it may expand the mobile betting app to other states besides New Jersey.
Bally’s and Harrah’s will become the third and fourth Atlantic City casinos with sports betting, joining Borgata and Ocean Resort.

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