LAS VEGAS, Oct. 23, 2018
/PRNewswire/ -- MGM GVC Interactive LLC, the U.S. sports
betting and online gaming joint venture owned by MGM Resorts
International ("MGM Resorts") (NYSE: MGM) and GVC Holdings Plc
(LSE: GVC), is pleased to announce the appointment of Adam Greenblatt as the venture's CEO, effective
upon receipt of all applicable licensing and regulatory
approvals.
Adam takes up the position having played a significant role in
the creation of MGM GVC Interactive via his previous role as
Director Corporate Development & Strategy at GVC Holdings. The
joint venture was established in July
2018 to create a world-class sports betting and online
gaming platform in the United
States, in order to take advantage of the new opportunities
created by the U.S. Supreme Court's decision to overturn the U.S.
federal Professional and Amateur Sports Protection Act (PASPA).
Prior to its acquisition by GVC, Adam served as Director of
Corporate and Strategic Development at Ladbrokes from 2010 and led
defining transactions for the group, including the strategic
partnership with Playtech, the acquisitions which created Ladbrokes
Australia and the successful merger between Gala Coral and Ladbrokes in November 2016. Adam has been President of GVC's
U.S. sports betting software business, Stadium Technology since
2012 and sits on the Board of GVC's joint venture in Spain. Having begun his career as a Chartered
Accountant in the UK with Arthur Andersen, Adam then moved into
mergers and acquisitions at international investment bank,
Rothschild. At Rothschild, Adam focused on the leisure sector and
was instrumental in developing the betting and gaming franchise.
Adam studied Business Science at the University of Cape
Town.
In a joint statement welcoming the appointment, GVC CEO,
Kenneth Alexander and Jim Murren, Chairman and Chief Executive Officer
of MGM Resorts, said:
"We are pleased to appoint Adam as CEO of the joint venture, who
will bring his in-depth knowledge and expertise in on-line gaming
and sports betting from both sides of the Atlantic. His
determination, experience and vision are exactly what we need to
establish a prime position in the rapidly evolving U.S. gaming
market."
Adam Greenblatt added:
"I am delighted to have been chosen to lead MGM GVC Interactive
at this historic time for the U.S. sports betting and gaming
sector. With the combined brands, technology and market access of
our two parent companies, I am determined to make it the most
dynamic and successful player in the industry."
ABOUT MGM RESORTS INTERNATIONAL
MGM Resorts
International (NYSE: MGM) is an S&P 500® global entertainment
company with national and international locations featuring
best-in-class hotels and casinos, state-of-the-art meetings and
conference spaces, incredible live and theatrical entertainment
experiences, and an extensive array of restaurant, nightlife and
retail offerings. MGM Resorts creates immersive, iconic experiences
through its suite of Las
Vegas-inspired brands. The MGM Resorts portfolio encompasses
28 unique hotel offerings including some of the most recognizable
resort brands in the industry. Expanding throughout the U.S. and
around the world, the company in 2018 opened MGM Springfield in
Massachusetts, MGM COTAI in
Macau, and the first
Bellagio-branded hotel in Shanghai. The 81,000 global employees of MGM
Resorts are proud of their company for being recognized as one of
FORTUNE® Magazine's World's Most Admired Companies®. For more
information visit us at www.mgmresorts.com.
ABOUT GVC HOLDINGS
GVC Holdings PLC is one of the
world's largest sports betting and gaming groups, operating both
online and in the retail sector. The Group owns a comprehensive
portfolio of established brands; Sports Brands include bwin, Coral,
Crystalbet, Eurobet, Ladbrokes and Sportingbet; Gaming Brands
include CasinoClub, Foxy Bingo, Gala, Gioco Digitale, PartyCasino
and partypoker. The Group owns proprietary technology across all of
its core product verticals and in addition to its B2C operations
provides services to a number of third-party customers on a B2B
basis. GVC acquired Ladbrokes Coral Group plc on 28 March 2018 and is now the UK's largest high
street bookmaker, with over 3,500 betting shops. The Group,
incorporated in the Isle of Man, is a constituent of the FTSE 100
index and has licences in more than 20 countries, across five
continents.
Statements in this release that are not historical facts are
"forward-looking" statements and "safe harbor statements" within
the meaning of the Private Securities Litigation Reform Act of 1995
that involve risks and/or uncertainties, including those described
in MGM Resorts' public filings with the SEC. Forward-looking
statements are based on management's current expectations and
assumptions and not on historical facts. Examples of these
statements include, but are not limited to, statements regarding
the future market position of the joint venture. Among the
important factors that could cause actual results to differ
materially from those indicated in such forward-looking statements
include effects of economic conditions and market conditions in the
markets in which the joint venture operates and competition with
other sports betting platforms, risks relating to permits,
licenses, financings, approvals and other contingencies in
connection with growth in new or existing jurisdictions and
additional risks and uncertainties described in MGM Resorts' Form
10-K, Form 10-Q and Form 8-K reports (including all amendments to
those reports). In providing forward-looking statements, MGM
Resorts is not undertaking any duty or obligation to update these
statements publicly as a result of new information, future events
or otherwise, except as required by law. If MGM Resorts updates one
or more forward-looking statements, no inference should be drawn
that it will make additional updates with respect to those other
forward-looking statements.
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SOURCE MGM Resorts International