MGM Resorts to Acquire Tipico US Technology Platform

24.06.2024

MGM Resorts has finalized an agreement to acquire the technology platform of Tipico US, a transaction managed by LeoVegas AB.

Strategic Implications

This deal represents LeoVegas’ second strategic investment aimed at developing MGM’s new online gambling offering, distinct from the BetMGM joint venture with Entain Plc.

The integration of Tipico US’s technology platform with LeoVegas will advance MGM’s standalone vision for its global digital gaming operations.

Tipico Sportwetten, the leader in the DACH markets, will wind down its US operations, which have been active in New Jersey and Colorado since 2020.

Earlier this year, Tipico, owned by CVC Partners, announced that it was reviewing its US business, with MGM emerging as the likely buyer.

LeoVegas will acquire key US-facing management, technology, and trading teams from Tipico, spanning operations in the US, Colombia, and Europe.

This acquisition aligns with LeoVegas CEO Gustaf Hagman’s vision of controlling their own sportsbook technology to deliver superior iGaming experiences across all markets and brands.

CEO Statements

Gustaf Hagman, CEO of LeoVegas, remarked, “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. 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 US business into the LeoVegas Group very soon.”

Gary Fritz, President of MGM Resorts International Interactive, emphasized the strategic importance 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. This acquisition gives us control of our entire technology ecosystem, and we are delighted to bring Tipico’s US team, with their track record of developing high-quality product and pricing capabilities, into our business.”