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MGM Resorts to acquire Tipico’s U.S. sportsbook
MGM Resorts International announced that its subsidiary, LeoVegas Group, has agreed to acquire the product and technology platform of Tipico‘s U.S. sportsbook and online casino.
After acquiring game developer Push Gaming in 2023, this deal marks LeoVegas’ second major acquisition. With the exception of brands that are exclusive to the BetMGM JV, the acquisition will enable LeoVegas to run a purpose-built proprietary sportsbook across all international markets and brands. The sportsbook will prioritize a quick and easy user experience while offering premium product, pricing, and functionality.
Tipico will wind down its U.S. activities prior to the closure of the transaction. LeoVegas will purchase a portion of Tipico’s technology, trading, and management teams in the United States, Europe, and Colombia as part of the deal.
Gary Fritz, President, MGM Resorts International Interactive, said:
“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. 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.”
The transaction is subject to customary closing conditions and is expected to be completed in the third quarter of 2024.
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