Monday, June 24, 2024 MGM Resorts International (NYSE: MGM) (“MGM Resorts” or the “Company”) announced today that its subsidiary, LeoVegas Group (“LeoVegas”), has signed an agreement to acquire the U.S. sportsbook and online casino product and technology platform from Tipico Group Ltd (“Tipico”).
This marks LeoVegas’ second major investment following the acquisition of game developer Push Gaming in 2023. This new acquisition will enable LeoVegas to manage a purpose-built proprietary sportsbook across all international markets and brands, except those exclusive to the BetMGM JV. The focus will be on delivering a seamless, fast consumer experience with top-quality products, pricing, and functionality.
Tipico will wind down its U.S. operations before the acquisition is finalized.
As part of the deal, LeoVegas will integrate Tipico’s U.S.-facing management, technology, and trading teams across the U.
S., Colombia, and Europe. Gary Fritz, President of MGM Resorts International Interactive, commented, “Acquiring Tipico’s award-winning U.
S. platform is a significant milestone in developing MGM Resorts’ global digital gaming business, allowing us to operate a proprietary sports betting platform. This acquisition gives us control over our entire technology ecosystem, and we are excited to welcome Tipico’s U.
S. team, known for their high-quality product and pricing capabilities, into our business.” LeoVegas CEO Gustaf Hagman added, “By owning our sportsbo.
