Adam Greenblatt named CEO of MGM GVC joint venture

Adam Greenblatt named CEO of MGM GVC joint venture

Wednesday, October 24, 2018 Posted by News Team
Director of corporate development & strategy promoted to lead $200m new entity

GVC Holdings’ director of corporate development and strategy Adam Greenblatt has been named chief executive of the company’s joint venture formed with MGM Resorts. 

Greenblatt is to take up the role, upon receipt of regulatory approval, for the new entity, into which each partner is to invest $100m. 

The company will combine GVC’s betting and gaming technology with MGM’s significant reach into multiple US markets, including a market access agreement with Boyd Gaming which gives MGM a route into 15 states. Currently MGM holds an 11% share in the US casino market. 

Greenblatt takes charge of the new business having most recently served as director of corporate development and strategy for GVC since March this year. 

Previously he held a similar role for Ladbrokes, in which he led a number of transformational transactions, such as establishing a strategic partnership with Playtech, creating Ladbrokes Australia, then the merger with Gala Coral in November 2016.

He has served as president of the US sports betting technology supplier Stadium Technology since 2012, and sits on the board of GVC’s Spanish-facing joint venture. 

“I am delighted to have been chosen to lead MGM GVC Interactive at this historic time for the US sports betting and gaming sector,” Greenblatt said of his latest appointment. 

“With the combined brands, technology and market access of our two parent companies, I am determined to make it the most dynamic and successful player in the industry.”

In a joint statement welcoming Greenblatt's appointment, GVC chief executive Kenny Alexander and MGM Resorts chairman and CEO Jim Murren added: “We are pleased to appoint Adam as CEO of the joint venture, who will bring his in-depth knowledge and expertise in on-line gaming and sports betting from both sides of the Atlantic. 

“His determination, experience and vision are exactly what we need to establish a prime position in the rapidly evolving U.S. gaming market.”

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