MGM Resorts International announced today that LeoVegas Group, a subsidiary of MGM Resorts International, has acquired Tipico Group’s US online sportsbook and casino platforms.
Both the technology and product that powers Tipico’s sports betting and online casino in the US are covered by the agreement. MGM and LeoVegas have not disclosed financial details.
MGM stated that the agreement will enable LeoVegas, a sportsbook built specifically for LeoVegas in all markets worldwide and under any brand. The only exception is the BetMGM joint-venture with Entain.
LeoVegas will acquire Tipico’s US management, trading, and technology teams in the US, Colombia, and Europe.
Tipico has agreed to wind down all US operations before the closing of the transaction. Operator is active in Colorado. Iowa, New Jersey, and Ohio.
MGM anticipates that the acquisition will close in the third quarter of the year, subject to the usual closing conditions.
MGM reaches “significant” milestone
MGM Interactive President Gary Fritz welcomed this deal, as it would give MGM Interactive more control over its technology ecosystem.
Fritz stated that the acquisition marked a milestone in MGM Resorts global digital gaming’s strategic development. It allows us to run a sports betting platform that is proprietary.
The deal allows us to control our entire technological ecosystem. Fritz stated that he was “delighted to have Tipico’s US team join our company, given their proven track record in developing products and prices of high quality.”
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LeoVegas’ CEO Gustaf Hagman said: “By controlling the sportsbook technology ourselves, we can ensure we deliver to our customers in all of our markets and across our brands the best igaming experiences available anywhere.”
We will be able to expand and improve our sportsbook offerings in new markets by leveraging our brands and introducing a sportsbook that is innovative and competitive. “I look forward to the LeoVegas Group welcoming talented teams from Tipico’s US business very soon.”
LeoVegas continues to expand its business
LeoVegas has made a second significant investment since MGM acquired it in November 2022.
LeoVegas purchased Push Gaming in September last year. The company said at the time that the purchase would allow it to expand into slot content, and improve its production abilities.
Fritz said that the MGM vision of expanding its global digital gaming presence was also consistent with this purchase.
Playtech’s partnership expands this vision. MGM and Playtech announced a deal last week to stream live games from Las Vegas’s Bellagio Hotel and MGM Grand.
Acquisition follows new Tipico CEO announcement
Tipico’s confirmation comes just one week after Axel Hefer became its new CEO.
Hefer assumes the position after serving as Chief Operating Officer. He replaces Joachim Baca who, after serving as Tipico CEO for eight years, will become chairman of the Tipico supervisory board.
Hefer, who assumed the position of CEO in January 2013, said that Tipico had evolved in recent years from a small startup into the market leader and technological innovator in German sports betting. I am excited to be a part of this story, with both the Tipico Team and owners.
He said: “Together, we’re committed to providing sports enthusiasts with the most safe and secure betting experience. We will extend our market leadership as well as achieve additional sustainable growth.”
