MGM Resorts International is looking to expand its sports betting operations by adding to its list of partners. The company hired TFA Capital Partners as an investment banking advisor and the word is they’re looking into a possible sports betting partnership deal with Tribal Nations.
Not The Last Partnership In MGM Resorts’ Future
MGM Resorts hiring of the investment banking firm TFA Capital Partners shows this won’t be the last of its expansion plans. Scott Butera, MGM’s president of interactive gaming, stated that the gaming operator is excited to explore new markets and opportunities in the U.S.
He sees the boom of the cross-state sports betting market as perfect timing for MGM and the Tribal Nations to join operations. This partnership could mean increase in demand for Tribal Nations casino properties, and an even stronger hand for MGM Resorts to play against its numerous sports betting competitors.
MGM’s Sports Betting Leverage In Indian Country
TFA Capital Partners seems to be the perfect assistant for drawing up MGM’s joint venture with Tribal Nations. The firm’s ties throughout Indian Country will be a valuable asset to MGM Resorts when it sets out to provide tribes with viable sports betting solutions, including self-service kiosks, mobile sports betting apps, premier odds setting and an operational database.
MGM has kept its calendar busy recently, with numerous deals with the MLB, the NHL and NBA. That last one cost the company $25 million and guaranteed it 3 years of NBA promotion for the MGM Sportsbook.
MGM Resorts also became the official gaming partner for the New York Jets this October, a promising deal to make during a strong football season.
MGM’s Future With SWIMA
Another interesting venture in MGM’s future is its membership on the upcoming Sports Wagering Integrity Association (SWIMA). The company’s senior vice president and CCO Stephen Martino was chosen to serve on SWIMA’s Board of Trustees, where he’ll be sitting next to Caesars’ own vice president, Jan Jones.
The committee’s purpose, as reported in a press release, will be to regulate sports betting within state and tribal borders and prevent any type of unethical activity such as match fixing. SWIMA will be active in the states that have legal sports betting markets: Delaware, New Jersey, Mississippi, West Virginia, New Mexico, Pennsylvania and Rhode Island. Soon enough, NY, Illinoi, Kansas, Kentucky and Ohio will most likely be added to that list.