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The deal will marry GVC's technology expertise and platforms with the footprint and brand of MGM, one of the world's biggest hospitality groups. It is likely to include a commitment of around 25 years from GVC and MGM, with an option in their agreement to buy each other out after 10 years, according to one source. The deal will get under way in Nevada, the only state where sports betting remained legal after the passing of laws in 1992. GVC and MGM will then expand the partnership to other states which legalise the pastime, with as many as 15 likely to do so in the near future. One source said they expected the announcement to provide a significant boost to shares in GVC, which has a market value of £6.29bn. Image: Ladbrokes' parent and MGM already collaborate in New Jersey MGM's market capitalisation at the close of trading on Friday stood at $17.5bn (£13.4bn), making it more than double the size of its British partner. While the MGM brand will be the dominant player in the services launched under the joint venture, insiders said GVC's Partypoker and Sportingbet brands will also be used. That decision will mean a return to much of the US for Partypoker more than a decade after it was forced out amid a legislative clampdown. The deal between GVC and MGM comes amid a frenzied land-grab by multinational gaming groups to secure a slice of a nascent US sports betting market which was thrown open in May by a Supreme Court ruling.
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