LeoVegas Agrees Deal to Acquire Tipico

MGM Resorts International has announced that its subsidiary, LeoVegas Group has agreed a deal to acquire the U.S. sportsbook and online casino operations of Tipico Group Ltd.

The acquisition will see LeoVegas operate a purpose-built proprietary sportsbook across all international markets and brands, with the exception of those exclusive to the BetMGM JV.

No specific financial details of the deal have been announced as of yet.

The Tipico deal is the second major investment by LeoVegas following its acquisition of game developer Push Gaming in 2023.

“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 U.S. team, with their track record of developing high quality product and pricing capabilities, into our business.”

LeoVegas CEO Gustaf Hagman added:

The transaction is subject to customary closing conditions and is expected to be completed in the third quarter of 2024.

Olivia Richardson

Olivia has worked as an editor and writer for major brands across multiple niches. She now focuses on the iGaming and sports betting industries.