LeoVegas Acquires Tipico’s US sportsbook platform
LeoVegas Acquires Tipico’s US sportsbook platform which will reinforce LeoVega’s presence in the U.S. Sports Betting market.
The announcement was made by MGM Resorts International, the parent company of LeoVegas. According to the press release, they have entered into an agreement to acquire Tipico Group’s US sportsbook and online casino technology platform. As a prominent player in the gambling and hospitality industry, this move aligns with previous rumors surrounding the deal. Through its subsidiary LeoVegas, MGM will take ownership of Tipico’s sportsbook and iGaming platform in the US.
Tipico made the decision to divest its US assets earlier this year, citing changes in the market as the driving force behind this choice. MGM Resorts was already considered a top contender for the acquisition, as it saw the potential to leverage Tipico’s platform to transition the LeoVegas sportsbook onto its own proprietary platform.
Currently, Tipico operates in four US states: New Jersey, Iowa, Colorado, and Ohio. With this merger, MGM will strengthen LeoVegas’ presence in the US and position the brand for further expansion. This deal will enable the brand to operate a purpose-built proprietary sportsbook across all international markets and brands. Of course, it does not include those exclusive to BetMGM.
The enhanced LeoVegas will prioritize delivering a streamlined and efficient customer experience, offering cutting-edge products, functionalities, and pricing.
This agreement comes shortly after MGM’s acquisition of Push Gaming, a leading provider of iGaming content.
Regarding Tipico, MGM has stated that the group will wind down its US operations prior to the completion of the current deal. As part of the agreement, LeoVegas will absorb Tipico’s US-facing management, tech, and trading teams.
LeoVegas Acquires Tipico’s US sportsbook platform to Reinforce their Presence in the U.S.
Gary Fritz, the president of MGM Resorts International Interactive, expressed his approval of the agreement. Thus, he was happy with the purchase of Tipico’s acclaimed US platform. He described the deal as a “major achievement” in the strategic growth of MGM Resorts’ worldwide digital gaming enterprise. Last but not least, he said it would enable the company to run its own sportsbook websites.
Gustaf Hagman, the CEO of LeoVegas, also expressed his thoughts on the agreement, commending the chance to oversee their exclusive sportsbook technology. He assured that this would enable the LeoVegas brand to provide unparalleled iGaming experiences to customers in all of their markets and brands.
In the third quarter of 2024, it is anticipated that the transaction will be finalized, subject to customary closing conditions. In March 2024, LeoVegas’ BetMGM app achieved remarkable success by becoming the top free sports app on the Apple App Store in the UK, surpassing competitors like bet365 and Sky Bet.
Furthermore, LeoVegas expanded its partnership with Playtech in April 2024 to include the Dutch market. This collaboration enables LeoVegas to incorporate Playtech’s gambling software, services, and platform technology into its platform in the Netherlands, following successful launches in the UK, Italy, Spain, Denmark, Sweden, and Ontario.
Who is LeoVegas Group
LeoVegas AB, is a Swedish company that specializes in mobile gaming. They offer a wide range of online casino and sports betting services to various international markets. These services include table games, video slots, progressive jackpots, video poker, and live betting.
In turn, LeoVegas Gaming Ltd., is a subsidiary of MGM Resorts International, operates under the umbrella of LeoVegas AB.
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