LeoVegas Group, a subsidiary of MGM Resorts International, has signed an agreement to acquire Tipico Group’s U.S. sports betting and online casino technology platform.
The acquisition is LeoVegas’ second investment, following its acquisition of game developer Push Gaming in 2023.
The acquisition will enable LeoVegas to manage proprietary sportsbooks across all international markets and brands, with the exception of sportsbooks exclusive to the BetMGM joint venture.
As part of the deal, Tipico will wind down its U.S. operations pending the closing of the acquisition. LeoVegas will absorb some of Tipico’s U.S.-facing management, technology and trading teams in the United States, Colombia and Europe.
"The acquisition of Tipico's U.S. platform marks an important milestone in the strategic development of MGM Resorts' global digital gaming business and enables us to operate a proprietary sports betting platform," said Gary Fritz, president of MGM Resorts International.
LeoVegas CEO Gustaf Hagman added: “By controlling our own sports betting technology, we ensure we deliver the best iGaming experience in the world to our customers across all markets and brands.”
The transaction is subject to customary closing conditions and is expected to close in the third quarter of 2024.
In March 2024, LeoVegas’ BetMGM app topped the charts for free sports apps on the Apple App Store, surpassing rivals such as bet365 and Sky Bet.
Additionally, in April 2024, LeoVegas expanded its partnership with Playtech to include the Dutch market.
The partnership will bring Playtech’s gambling software, services and platform technology to the LeoVegas platform in the Netherlands, following successful launches in the UK, Italy, Spain, Denmark, Sweden and Ontario.
