MGM Resorts Acquires Tipico’s US Sportsbook and Online Casino Platforms
MGM Resorts International has announced that its subsidiary, LeoVegas Group, has agreed to acquire Tipico Group’s US sportsbook and online casino platforms. The deal covers the product and technology platform that powers Tipico’s online sports betting and casino in the US, with neither MGM nor LeoVegas disclosing the financial details of the agreement.
The acquisition will allow LeoVegas to operate a proprietary sportsbook across all international markets and brands, except for those exclusive to the BetMGM joint venture with Entain. Additionally, LeoVegas will acquire Tipico’s US-facing management, technology, and trading teams across the US, Colombia, and Europe. MGM Resorts Tipico
Tipico will wind down its US operations prior to the deal closing, which is expected to take place during the third quarter, subject to customary closing conditions. MGM Interactive president Gary Fritz welcomed the deal, stating: “The acquisition marks a significant milestone in the strategic development of MGM Resorts’ global digital gaming business… It allows us to operate a proprietary sports betting platform. The deal gives us control of our entire technology ecosystem… We are delighted to bring Tipico’s US team, with their track record of developing high-quality product and pricing capabilities, into our business.”
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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.”
This acquisition marks the second major investment by LeoVegas since it was acquired by MGM in November 2022. The company previously purchased game developer Push Gaming in September 2022. The deal also aligns with MGM’s vision to expand its digital gaming presence internationally.
In related news, Tipico’s new group CEO Axel Hefer commented on his appointment: “In recent years, Tipico has evolved from a startup to the definitive market and technology leader in sports betting in Germany… I am eager to continue this success story with the Tipico team and the owners. Together we are committed to providing sports fans with the best and most secure betting experience, extending our market leadership, and achieving additional sustainable growth.”
