LeoVegas has secured a deal to acquire the US sportsbook interests of Tipico Group, as well as its online casino technology system.
Announcement The deal was made on Monday (June 24) by LeoVegas parent company MGM Resorts International and is the second strategic investment to streamline the company’s online gambling offering. Acquisition of Push Gaming At the end of last year.
As part of the agreement, Tipico will shut down its US operations prior to completion of the acquisition, and certain US management, technology and business teams based in the United States, Colombia and Europe will be integrated into LeoVegas.
Tipico is a market leader in the European DACH region (Germany, Austria, Switzerland), but the deal will end its operations in the US, where it has been operating in New Jersey and Colorado since 2020.
Ambition to provide “the world’s best iGaming experience”
“The acquisition of Tipico’s U.S. platform is an important milestone in the strategic evolution of MGM Resorts’ global digital gaming business, allowing us to operate a proprietary sports betting platform,” said Gary Fritz, president of MGM Resorts International Interactive.
With the deal managed by LeoVegas, its CEO Gustaf Hagman commented, “By controlling our own sportsbook technology, we ensure that we will offer customers the world’s greatest iGaming experience across all our markets and brands.”
The transaction is subject to standard closing conditions but is expected to be completed in the third quarter of this year.
MGM took control of LeoVegas in 2022 in a $600 million deal that proved to be a turning point in the NYSE-listed gambling unit’s online operations. Under MGM, LeoVegas has launched the following Significant openings in the United Kingdom and in the Netherlands under the BetMGM sportsbook brand.
In March 2024, BetMGM It rose to the top of the UK free sports app charts in the Apple App Store, beating established rival brands such as bet365 and Sky Bet.
Image Credit: Via Ideogram
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