MGM Resorts, an American global hospitality and entertainment company, and GVC Holdings, a gambling and online gambling operator in both business-to-consumer and business-to-business markets, formed a 50/50 joint venture to create a world-class sports betting and online gaming platform in the United States. Financial terms were not disclosed. Kenneth Alexander, Chief Executive of GVC, said "MGM Resorts is a world leading entertainment business and the most trusted name in gaming, with the highest quality brands and management, and strong sports connectivity. This combined with GVC's technology and experience in successfully building online gaming businesses across multiple markets presents a truly exciting opportunity for U.S. players and our respective shareholders. To be able to team up with a partner with such pedigree and knowledge, particularly in the U.S., is a real opportunity for GVC."