Bwin.Party Partners with MGM Resorts and Boyd Gaming for US Market
November 3, 2011
A recent announcement was made regarding MGM Resorts International and Boyd Gaming Corporation and a partnership with Bwin.Party Digital Entertainment, the biggest Internet gaming operation in the world and parent company of PartyPoker. The three entities will own a future online poker operation once Internet poker becomes legal in the US with ownership percentages in favor of Bwin.Party. Twenty-five per cent of the company would be held by MGM, while Boyd Gaming would only have a 10% stake in the company.
Once legislation is passed concerning online poker ops in the US, the company will be ready to go. CEO of MGM Resorts Jim Murren says, “We know that millions of Americans are gambling online (and) we know that they’re gambling billions of dollars. We know that the U.S. government is deriving no benefit from this, no job creation, no tax revenue, and we know that many are at risk from unregulated websites.”
CEO of Bwin.Party Jim Ryan says, “It’s all about preparing for the eventual opening of the market.”
The partnership will allow them to enter the US market very quickly once regulations are in place, and brand recognition would allow for high traffic.
MGM and Bwin.Party are not new to each other, as Bwin.Party own World Poker Tour, and MGM Resorts have hosted many WPT events around the world. Boyd Gaming is hoped to bring cash to the partnership for startup costs that they may incur in the future.
While everyone still waits for the go ahead by the US government for online poker, it’s a smart step in the right direction for companies to position themselves for action once regulations are in place and Internet poker is legal in the US.
Bwin.Party formed back in March when Party Gaming and Bwin Interactive merged to create the biggest gambling corporation in the world. It only makes sense that they partner with one of the biggest land-based gambling companies in the US in order to plant the seed to supply legal Internet gambling for the US market. Bwin.Party is one of the only gambling companies that backed out of the US market in 2006 when the UIGEA was introduced, so they have that on their side when it comes time to obtain licensing.
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