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MGM’s LeoVegas reaches agreement to acquire US sportsbook Tipico

LeoVegas has reached an agreement to acquire Tipico Group’s US sports betting interests as well as its online casino technology systems.

this announcement Completed on Monday (June 24) by LeoVegas parent company MGM Resorts International, this is the second strategic investment made by the company to streamline its online gaming products, following Acquisition of Push Gaming end of last year.

As part of the agreement, Tipico will wind down its U.S. operations prior to the closing of the acquisition and integrate certain U.S.-facing management, technology and trading teams located in the U.S., Colombia and Europe into LeoVegas.

Tipico is the market leader in the DACH region of Europe (Germany, Austria, Switzerland), but the agreement will end its operations in the United States, where it has been present in New Jersey and Colorado since 2020.

Committed to providing “the world’s best iGaming experience”

“The acquisition of Tipico’s U.S. platform marks an important milestone in the strategic development of MGM Resorts’ global digital gaming business, enabling us to operate a proprietary sports betting platform,” said Gary Fritz, president of MGM Resorts Interactive International.

The deal was managed by LeoVegas, whose CEO Gustaf Hagman said: “By controlling our own sportsbook technology, we ensure we can provide our customers across all markets and brands with the best iGaming experience in the world.”

The transaction is subject to standard closing terms but is expected to close in the third quarter of this year.

MGM’s $600 million acquisition of LeoVegas in 2022 marked a turning point for the New York Stock Exchange-listed brick-and-mortar gaming business. Under MGM’s leadership, LeoVegas led the launch of Important vacancies in the UK and the BetMGM sportsbook brand in the Netherlands.

March 2024, Betting on MGM On the Apple App Store, it topped the charts for free sports apps in the UK, surpassing established rivals such as bet365 and Sky Bet.

Image source: Via Ideogram

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