MGM Resorts International takes “control” of its entire technology ecosystem as the firm’s subsidiary, LeoVegas, enters into an agreement with Tipico Group

Lauding the movement as a “milestone” in MGM Resorts’ global digital gaming business, the deal, which is subject to customary closing conditions, will see LeoVegas acquire the US sportsbook and online casino facing products and technology from Tipico Group. 

“The acquisition of Tipico’s award winning US 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,” said Gary Fritz, President, MGM Resorts International Interactive. 

“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.”

Following the purchase, LeoVegas will be able to operate a purpose-built proprietary sportsbook across a variety of international markets and brands, with the exception of those exclusive to BetMGM. 

LeoVegas CEO, Gustaf Hagman, added: “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.”

Furthermore, Tipico will wind down its US operations prior to the closing of the acquisition. As part of the transaction, LeoVegas will acquire certain of Tipico’s US facing management, technology and trading teams across the US, Colombia and Europe.

The transaction is expected to be completed in the third quarter of 2024.LeoVegas’ acquisition of Tipico marks the former’s second major investment, after game developer Push Gaming came under the operator’s wing in 2023.

MGM Resorts takes ‘control’ via LeoVegas & Tipico purchase