MGM Resorts International announced that its subsidiary, LeoVegas Group, has entered into an agreement to acquire Tipico Group's US sportsbook and online casino technology platform.
This acquisition represents LeoVegas' second investment following the purchase of game developer Push Gaming in 2023.
The acquisition will allow LeoVegas to manage a proprietary sportsbook across all international markets and brands, except those exclusive to the BetMGM joint venture.
As part of the transaction, Tipico will wind down its US operations before the acquisition is finalised. LeoVegas will incorporate certain US-facing management, technology and trading teams from Tipico, based in the US, Colombia and Europe.
Gary Fritz, MGM Resorts International Interactive President, stated: "The acquisition of Tipico's US platform marks a significant milestone in the strategic development of MGM Resorts' global digital gaming business, allowing us to operate a proprietary sports betting platform.”
Gustaf Hagman, LeoVegas CEO, 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.”
The transaction is subject to customary closing conditions and is expected to be completed in the third quarter of 2024.
In March 2024, LeoVegas' BetMGM app reached the top of the UK charts for free sports apps on the Apple App Store, surpassing competitors such as bet365 and Sky Bet.
Additionally, in April 2024, LeoVegas extended its partnership with Playtech to include the Dutch market.
This collaboration brings Playtech's gambling software, services and platform technology to LeoVegas’ platform in the Netherlands, following successful launches in the UK, Italy, Spain, Denmark, Sweden and Ontario.
