Over the next 5 years, GVC Holdings and MGM Resorts are set to increase their financial stake to become the dominant force of online gambling and sports betting in the market.
The US and UK giants are jointly investing a whopping $250m into their US operation Roar Digital and brand Bet MGM. This cash injection follows an initial investment of $200m made by the two companies back in 2018 at the start of their collaboration, further strengthening their hold on the industry.
Needless to say, the CEO Adam Greenblatt from Roar Digital, is delighted by the support they have received from their two stakeholders saying it was “pivotal in achieving Roar’s goal of securing leading market positions in regulated US gaming and betting states”
He went on to add that Roar would reach their goal of operating in 11 US states by the end of 2020. Greenblatt was quoted as saying that this year alone, they were expecting a net revenue of more than $130m. The state of New Jersey’s regulation of online gambling being the main reason as the state has been booming since the Atlantic City’s Land-Based casino closed in March.