MGM Resorts International, known as MGM Resorts, announced that its LeoVegas Group division has acquired the sportsbook and online casino technology from Tipico Group Ltd. This marks LeoVegas’ second major investment after acquiring gaming company Push Gaming in 2023. This acquisition strengthens LeoVegas’ ability to manage a global sportsbook, excluding areas covered by the BetMGM joint venture.
The deal aims to provide a user-friendly interface with premium quality, competitive pricing, and advanced functionality. As Tipico will cease its US operations, LeoVegas will integrate key personnel from Tipico’s US, Colombian, and European locations, including management, technology, and trading staff.
Gary Fritz, President of MGM Resorts International Interactive, emphasized the significance of the acquisition, stating, “The acquisition of Tipico’s award-winning U.S. 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.” He further highlighted the benefit of gaining control over their technology ecosystem and the addition of Tipico’s US team with their expertise in developing high-quality products and pricing.
LeoVegas CEO Gustaf Hagman expressed his excitement about the deal, emphasizing the benefits of controlling their own sportsbook technology. “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,” he said. “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. I look forward to welcoming the talented teams from Tipico’s U.S. business into the LeoVegas Group very soon.”
The deal’s completion is subject to standard closing conditions and is expected to be finalized in the third quarter of 2024.
