The deal will see MGM Grand getting access to the Northeast market and Indian gaming, while the Mashantucket Pequot tribe who run Foxwoods will gain an experienced partner for its attempts to break into the worldwide market.

Under the terms of the deal, which were released yesterday, the Pequot tribe will licence the MGM Grand name for the new casino resort the tribe is constructing adjacent to its flagship Foxwoods Resort and Casino. The two companies also plan to share data on the millions of gamblers who visit their casinos – mostly for marketing purposes.

The deal reflects the changing times for casino operators, who are beginning to collaborate in order to survive against the competition.