MGM Resorts International has announced that its subsidiary, LeoVegas Group, will acquire Tipico Group's US sportsbook and online casino technology platform.
This deal is LeoVegas' second major investment following its purchase of game developer Push Gaming in 2023. The acquisition will enable LeoVegas to operate a proprietary sportsbook across all international markets and brands, except those under the BetMGM joint venture.
Tipico will cease its US operations before the acquisition is finalised. LeoVegas will integrate US-facing management, technology, and trading teams from Tipico, with personnel based in the US, Colombia, and Europe.
Gary Fritz, President of MGM Resorts International Interactive, highlighted the significance of the acquisition: "The acquisition of Tipico's US platform is a major step in advancing MGM Resorts' global digital gaming strategy, allowing us to manage a proprietary sports betting platform.”
LeoVegas CEO Gustaf Hagman emphasised the benefits of the acquisition: "By owning our sportsbook technology, we can offer the best iGaming experience to customers across all our markets and brands.”
The transaction is expected to close in the third quarter of 2024, subject to customary conditions.
In March 2024, LeoVegas' BetMGM app achieved the top position in the UK charts for free sports apps on the Apple App Store, surpassing rivals like bet365 and Sky Bet. In April 2024, LeoVegas also extended its partnership with Playtech to the Dutch market, incorporating Playtech's gambling software, services, and platform technology into LeoVegas' operations in the Netherlands, following successful launches in several other countries.