MGM Resorts International has announced that its subsidiary, LeoVegas Group, has reached an agreement to acquire the U.S. sportsbook and online casino operations from Tipico Group Ltd.
This acquisition marks LeoVegas’ second significant investment following its acquisition of game developer Push Gaming in 2023. The acquisition will enable LeoVegas to deploy a proprietary sportsbook across all international markets and brands, excluding those exclusive to the BetMGM joint venture. This move is aimed at providing a seamless and efficient consumer experience with high-quality product offerings, pricing, and functionality.
Tipico plans to wind down its U.S. operations before the acquisition is finalized. As part of the deal, LeoVegas will integrate certain management, technology, and trading teams from Tipico’s U.S., Colombian, and European divisions.
The transaction is subject to customary closing conditions and is anticipated to be completed in the third quarter of 2024.
This strategic move underscores MGM Resorts’ and LeoVegas’ commitment to expanding their presence in the global iGaming market, leveraging innovative technology and experienced personnel to enhance their offerings.
“The acquisition of Tipico’s award-winning U.S. 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,” said Gary Fritz, President, MGM Resorts International Interactive, “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 U.S. business into the LeoVegas Group very soon.”
