LeoVegas to acquire Tipico’s US operations
MGM Resorts’ subsidiary has agreed to acquire Tipico US sportsbook and online casino.
US.- MGM Resorts International has announced that its subsidiary, LeoVegas Group, has agreed to acquire Tipico Group’s US sportsbook and online casino. The transaction is subject to customary closing conditions and is expected to be completed in the third quarter.
MGM said the acquisition will allow LeoVegas to operate a purpose-built proprietary sportsbook across all international markets and brands, except those exclusive to the BetMGM joint venture with Entain. LeoVegas will acquire some of Tipico’s US-facing management, technology, and trading teams across the US, Colombia, and Europe.
Gary Fritz, President of MGM Resorts International Interactive, said: “The acquisition of Tipico’s award winning US platform marks a significant milestone in the strategic development of MGM Resorts’ global digital gaming business, allowing us to operate a proprietary sports betting platform. This acquisition gives us control of our entire technology ecosystem, and we are delighted to bring Tipico’s U.S. team, with their track record of developing high-quality product and pricing capabilities, into our business.”
LeoVegas CEO Gustaf Hagman added: “By controlling our own sportsbook technology, we ensure that we will deliver the world’s greatest iGaming experience to customers across all our markets and brands. Powering our strong brands with a competitive and innovative sports product will enable us to grow and strengthen our sportsbook offering in both new and existing markets. I look forward to welcoming the talented teams from Tipico’s US business into the LeoVegas Group very soon.”
LeoVegas was acquired by MGM Resorts in September 2022 as part of the US casino giant’s strategy to grow its online gaming footprint worldwide. In 2023, LeoVegas reached an agreement to buy the UK-based games studio Push Gaming.
