by Renee Israel
Bwin.Party digital entertainment Plc, the London and Stockholm listed online
gambling giant, announced that it has entered into a lucrative joint venture
deal with two US gambling groups.
As part of the Bwin.party US gambling joint venture, the online
gambling group will partner with MGM Resorts International and Boyd Gaming Corp
to create a new US based company, which will be poised to enter the US gambling
market if and when it becomes regulated and licensed, at either state or federal
level.
The new gambling joint venture will be 65% owned by Bwin.Party, 25% owned by
MGM and 10% owned by Boyd.
When US gambling laws change, the new bwin.party us gambling deal venture
will be able to offer Bwin.Party's brands to the US online poker industry,
including its PartyPoker and World Poker Tour brands.
Jim Ryan and Norman Teufelberger, the co-Chief Executive Officers of
Bwin.Party digital entertainment gambling group said in a statement: "Our
strategy has been designed to address any and all legislative outcomes, whether
federal or state to state."
"We are particularly excited to be working with MGM and Boyd," they said.
"Combining their significant assets and regulatory expertise with the strength
of our PartyPoker and World Poker Tour brands, all supported by our in-house
technology, makes us perfectly positioned for any future opening of the US
online poker market."
Bwin.Party Sign Two 15 Year Deals
Besides the new joint venture that will see Bwin.Party digital entertainment
enter the US gambling market upon legislation, the group also announced that it
has signed two separate business to business deals with MGM and Boyd, each one
spanning fifteen years.
According to Bwin.Party these agreements would "enable them to offer real
money online poker services under their own brands in the US using the
bwin.party technology platform and associated services."
The President and CEO of Boyd Gaming, Keith Smith, said that the group
believed that the right approach to offering legal online poker in the US was
through a federal regulatory structure which ensures that "games are conducted
with the greatest possible integrity and security."
He said that should Congress enact legislation to legalise online poker, the
joint venture with Bwin.Party gambling group would allow them to partner with
"the world's most experienced and prestigious online operator to offer a secure,
fair and entertaining experience for players in the United States."
The CEO of MGM Resorts International, Jim Murren, echoed the sentiments
expressed by his colleagues.
