Greenblatt has served as Manager of Corporate Development & Strategy for GVC Holdings Plc, but he also possesses in-depth knowledge and expertise in sports gambling and online gambling from his position at Ladbrokes.
His promotion to the executive leadership stance was announced on Tuesday at a combined company communication, pointing out his long experience from the gambling and entertainment industry. Greenblatt will now function as CEO of the newly established joint venture involving the American hospitality and gaming giant MGM Resorts International and Isle of Man-headquartered GVC Holdings PLC, that possesses significant gambling and sports gambling brands, such as Coral, Ladbrokes, bwin, Crystalbet, partypoker, and CasinoClub.
The joint venture was formed this summer with the intention of creating a top sports gambling and interactive gambling proposal to the US market, according to the press release. It is hardly a surprise that Adam Greenblatt has been chosen to direct MGM GVC Interactive, considering he’s played with a “significant character ” at its own creation during his occupation as a Director Corporate Development & Strategy at GVC Holdings. His career, however, didn’t start at GVC and has been much more interesting.
Then he focused on mergers and acquisitions at international investment bank Rothschild at which he mimicked deals from the leisure industry. In addition, Greenblatt was Director of Corporate and Strategic Development at Ladbrokes from 2010. According to the press release, he had been in charge of “defining trades ” to the company like the strategic venture with Playtech, the acquisitions that generated Ladbrokes Australia and the successful merger involving Gala Coral and Ladbrokes at November 2016.
MGM GVC Interactive Joint Venture
Rumors about the partnership between MGM Resorts and GVC appeared in late July and it that the 2 companies shortly confirmed the creation of MGM GVC Interactive. The joint venture has its headquarters in the USA and is formed with an first investment of $100 million made by each of the spouses. As stated by the first statement by GVC, the new company would have access to 15 states within the US and a potential audience of 90 million people.
In fact, MGM GVC Interactive will make the most of all U.S. land-based and online sports gambling and poker tournaments, real cash and free-to-play casino gambling. It’ll integrate both companies’ customer loyalty applications. Commenting his new position as CEO, Adam Greenblatt stated he would transform the joint venture to the many “lively and successful” business in the business, contemplating MGM GVC will benefit in the combined brands, technology, and market reach.
The new venture is looking at the rapidly evolving US sports gambling market after the United States Supreme Court’s decision in May to raise the national ban on sports wagering. GVC is one of the many UK-based bookmakers which are currently focusing on the new opportunities in the US as more and more states are passing laws which allows wagers on sports.
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