MGM-owned LeoVegas secures deal to amass Tipico US sportsbook

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LeoVegas has secured a deal to amass Tipico Group’s US sportsbook pursuits, in addition to its on-line on line casino expertise system.

The announcement was made by LeoVegas’ guardian firm MGM Resorts Worldwide on Monday (June 24) and represents the corporate’s second strategic funding to streamline its on-line playing providing, following the acquisition of Push Gaming late final yr.

As a part of the settlement, Tipico will sundown its US operations earlier than the takeover is accomplished, with some US-facing administration, tech, and buying and selling groups primarily based within the States, Colombia, and Europe being built-in into LeoVegas.

Tipico is a market chief within the European DACH area (Germany, Austria, Switzerland) however this settlement will finish its operations within the US, the place it has operated in New Jersey and Colorado since 2020.

Ambition to ship “the world’s best iGaming expertise”

Gary Fritz, MGM Resorts Worldwide Interactive President acknowledged, “The acquisition of Tipico’s US platform marks a big milestone within the strategic improvement of MGM Resorts’ international digital gaming enterprise, permitting us to function a proprietary sports activities betting platform.”

With the deal managed by LeoVegas, its CEO Gustaf Hagman commented, “By controlling our personal sportsbook expertise, we guarantee that we’ll ship the world’s best iGaming expertise to clients throughout all our markets and types.”

The transaction is topic to plain closing phrases however is anticipated to be accomplished within the third quarter of this yr. 

MGM assumed management of LeoVegas in 2022 in a deal price $600 million, which marked a turning level within the NYSE-listed playing entity’s on-line operations. Underneath MGM, LeoVegas has led the launch of vital openings in the UK and the Netherlands beneath the BetMGM sportsbook model.

In March 2024, BetMGM reached the the highest of the UK free sports activities app charts, within the Apple App Retailer, pushing forward of established rival manufacturers akin to bet365 and Sky Wager. 

 

Picture credit score: Through Ideogram