MGM Resorts International announced that its subsidiary, LeoVegas Group, has agreed to acquire Tipico Group‘s U.S. sportsbook and online casino.
The transaction is subject to customary closing conditions and is expected to close by September 2024.
LeoVegas will acquire management and technology teams
MGM said the acquisition will allow LeoVegas to operate a proprietary sportsbook across all international markets and brands. Except, of course, for those exclusive to the BetMGM joint venture with Entain.
Thus, LeoVegas will acquire some of Tipico’s management, technology and trading teams in the United States, Colombia and Europe.
Gary Fritz, President of MGM Resorts International Interactive, said: “The acquisition of Tipico’s award-winning US platform represents a significant milestone in the strategic development of MGM Resorts’ global digital gaming business. It will allow 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 North American team, with their track record of developing high-quality products and pricing capabilities, to our business.”
LeoVegas CEO Gustaf Hagman added: “By controlling our own sports betting technology, we ensure we deliver the best iGaming experience in the world.
“This way, by leveraging our strong brands with a competitive and innovative sports product, we will be able to grow and strengthen our sports betting offering. I look forward to welcoming the talented teams from Tipico’s US business to the LeoVegas Group soon” .
MGM Resorts purchased LeoVegas in September 2022. Thus, the deal came as part of the US casino giant’s strategy to increase its presence in online gaming around the world.
Therefore, in 2023, LeoVegas reached an agreement to purchase UK-based gaming studio Push Gaming.
