New chapter for Sportsbook as LeoVegas acquires Tipico’s US platform

Lea Hogg 1 month ago
New chapter for Sportsbook as LeoVegas acquires Tipico’s US platform

 

MGM Resorts International has announced that its subsidiary, LeoVegas Group, has acquired the US sportsbook and online casino technology platform of Tipico Group. This acquisition is a strategic move that marks a new chapter in the US sportsbook industry.

LeoVegas Group, a renowned name in the gaming industry, is owned by MGM Resorts International. The acquisition of Tipico’s US platform is a testament to LeoVegas’ commitment to expanding its footprint in the global digital gaming business. This acquisition is LeoVegas’ second major investment, following the purchase of game developer Push Gaming in 2023.

The acquisition will enable LeoVegas to manage a proprietary sportsbook across all international markets and brands, with the exception of those exclusive to the BetMGM joint venture. This strategic move will strengthen LeoVegas’ position in the global gaming market and enhance its ability to deliver the world’s greatest iGaming experience to customers across all its markets and brands.

As part of the transaction, Tipico will cease its US operations before the acquisition is finalized. LeoVegas will integrate certain US-facing management, technology, and trading teams from Tipico, which are based in the US, Colombia, and Europe. This integration will further enhance LeoVegas’ operational efficiency and technological capabilities.

Impact on the global digital gaming business

Gary Fritz, MGM Resorts International Interactive President, stated that the acquisition of Tipico’s US platform is a significant milestone in the strategic development of MGM Resorts’ global digital gaming business. He emphasized that this acquisition would enable MGM Resorts to operate a proprietary sports betting platform, thereby strengthening its position in the global digital gaming market.

LeoVegas CEO, Gustaf Hagman, echoed Fritz’s sentiments. He stated that by controlling their own sportsbook technology, LeoVegas ensures that it will deliver the world’s greatest iGaming experience to customers across all its markets and brands.

The transaction is subject to customary closing conditions and is expected to be completed in the third quarter of 2024. This timeline indicates the strategic planning and meticulous execution involved in this acquisition.

In March 2024, LeoVegas’ BetMGM app reached the top of the UK charts for free sports apps on the Apple App Store, surpassing competitors such as bet365 and Sky Bet. This achievement demonstrates LeoVegas’ commitment to delivering a superior gaming experience to its customers.

Furthermore, in April 2024, LeoVegas extended its partnership with Playtech to include the Dutch market. This collaboration brings Playtech’s gambling software, services, and platform technology to LeoVegas’ platform in the Netherlands, following successful launches in the UK, Italy, Spain, Denmark, Sweden, and Ontario.

In conclusion, the acquisition of Tipico’s US platform by LeoVegas Group is a strategic move that will reshape the landscape of the US sportsbook industry. It marks a new chapter in the global digital gaming business and underscores LeoVegas’ commitment to delivering the world’s greatest iGaming experience to its customers. This acquisition is a testament to LeoVegas’ vision and strategic planning, and it sets the stage for the company’s future growth and success in the global digital gaming market.

SiGMA East Europe Summit powered by Soft2Bet, will take place in Budapest from 2-4 September 2024.

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