Supplier News
US – MGM Resorts retains TFA Capital Partners as strategic advisor
By Phil - 5 December 2018
MGM Resorts International has retained TFA Capital Partners to assist the company in identifying opportunities for sports betting partnerships with tribal nations throughout Indian Country.
TFA has extensive relationships throughout Indian Country, and with TFA’s assistance, the MGM-GVC joint venture hopes to provide tribal nations with a turnkey customisable omnichannel sports betting solution that includes:
Over-the-counter sports betting, self-service kiosks and mobile sports betting products powered by the joint venture’s proprietary end-to-end technology;
Premier odds setting/trading/risk management services;
Design, marketing and operating consultation;
Ability to leverage the iconic MGM brand and database, which is expected to grow with the recently announced League partnerships with the NBA, MLB, NHL and Alliance of American Football; and
Employee training and operational readiness assessments.
“We are excited to bring TFA aboard as sports betting continues to roll out across the United States,” said Scott Butera, MGM Resorts’ President of Interactive Gaming. “Sports betting represents a significant opportunity for both the tribal nations and the MGM-GVC joint venture. We look forward to working with the TFA team to develop mutually beneficial relationships that offer the joint venture entry into new markets while providing our tribal nation partners with additional capabilities and resources to drive incremental demand to their casino properties.
Gaming industry investment banking veteran, William Newby, recently joined TFA Capital Partners as its President. Mr. Newby has advised and led the financing for many of the gaming industry’s most notable transactions, including Harrah’s Entertainments’ acquisition of Caesars Entertainment, MGM’s acquisition of Mirage Resorts and Mandalay Resort Group, the TPG/Apollo acquisition of Harrah’s Entertainment and the creation of Wynn Resorts Limited. Kristi Jackson, TFA’s co-founder, vice-chair and CEO, has become chairman of TFA Capital and will be responsible for continuing to lead the group’s efforts in the tribal finance area. David Howard, who has been with TFA since its inception, will serve as the company’s CEO.
TFA Capital Leadership TeamLeadership Team Left to right : Jeff Heimann,Kristi Jackson, Bill Newby, David Howard, Bill Crader
