LeoVegas Group acquires Tipico US assets

LeoVegasGroup, an MGM Resorts International subsidiary, has grabbed headlines this week by announcing the planned acquisition of Tipico Group Ltd’s US sportsbook and online casino products and platforms.

LeoVegas Group secures Tipico proprietary sportsbook tech

The company has confirmed that it has entered into an agreement with Tipico Group and is planning to complete the sale as it seeks to garner momentum in the US market, driving synergies with other local entities, including BetMGM.

This is the second big acquisition for LeoVegas Group, following the purchase of Push Gaming, a game developer for iGaming in 2023, which was meant to hone the group’s capabilities in producing online casino content and grow the company’s footprint organically.

Thanks to this new move, though, LeoVegas will now have the purpose-built proprietary technology to run a sportsbook across not just the United States, if it chooses to, but also across international markets. The technology can be used as a blueprint to power the experience at other brands owned by LeoVegas Group as well.

Commenting on this opportunity, MGM Resorts International Interactive President Gary Fritz said that this acquisition is a significant milestone for MGM Resorts’ global digital gaming business.

"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," Fritz mused.

Enabling LeoVegas to enhance the iGaming experience for audiences worldwide

The news was similarly welcomed by LeoVegas CEO Gustaf Hagman who was happy to see his company assume control over sportsbook technology that will enable the group to further enhance the experience it delivers to customers across international markets and brands.

He further noted that powering LeoVegas' existing offer with a competitive and innovative sports product aligned well with the group’s overall strategy for growth and sustainability, as well as self-reliance.

"I look forward to welcoming the talented teams from Tipico's US business into the LeoVegas Group very soon," Hagman concluded, with customary closing proceedings now underway, and the deal itself expected to be wrapped up in the third quarter of 2024.

The news of the acquisition comes only a few days after it was revealed that Tipico would get a new CEO, Alex Hefer, who is moving from his current position of COO to fill the shoes of the outgoing incumbent, Joachim Baca.

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