Following the agreement of the deal, Tipico will now begin to wind down its U.S. operations. As part of the deal, LeoVegas will acquire certain of Tipico’s U.S. facing management, technology and trading teams across the U.S., Colombia and Europe.
LeoVegas Agrees Deal to Acquire TipicoNo specific financial details of the deal have been announced as of yet.
LeoVegas Agrees Deal to Acquire TipicoGary Fritz, President, MGM Resorts International Interactive said of the deal:
“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:
LeoVegas Agrees Deal to Acquire TipicoThe transaction is subject to customary closing conditions and is expected to be completed in the third quarter of 2024.
Olivia has worked as an editor and writer for major brands across multiple niches. She now focuses on the iGaming and sports betting industries.