Ladbrokes owner GVC in talks with MGM Resorts

The UK owner of the Ladbrokes, Coral and Sportingbet brands is in advanced talks about a joint venture with US hotel and casino operator MGM Resorts. GVC Holdings had been considering opportunities in the US after the Supreme Court paved the way to legalise sport betting. MGM is best known for Las Vegas brands such as the MGM Grand and Bellagio. UK betting firms have been looking closely at the US market after the US Supreme Court in May overturned 1992 legislation that banned sports betting in most states. In May, gambling firm Paddy Power Betfair bought the US fantasy sports betting site Fan Duel.

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