MGM Acquiring Tipico Sportsbook

MGM Resorts International announced that one of their subsidiaries, LeoLasVegas will be acquiring Tipico Sportsbook’s U.S. operations and their online casino technology system. According to the terms of the deal, Tipico will shut down its US operations before the takeover’s completion, and LeoVegas will incorporate certain US-based management, technology, and trading teams that are situated in the US, Colombia, and Europe. 

“The acquisition of Tipico’s US 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.” said Gary Fritz, MGM Resorts International Interactive President.

Check out the latest sports betting odds at BetMGM.

“By controlling our own sportsbook technology, we ensure that we will deliver the world’s greatest iGaming experience to customers across all our markets and brands.” said LeoVegas CEO Gustaf Hagman. MGM took control of LeoVegas in 2022 in a deal that was worth about $600 million dollars. Since that time, LeoVegas has launched openings under the MGM umbrella in the UK and the Netherlands. It was just a few months ago that BetMGM was the top free sports app in the UK.

Tipico Sportsbook had been in talks to sell their U.S. operations since 2022 and they finally found a buyer. Tipico hasn’t really succeeded with their U.S. sportsbook operations but they have had success with their mobile casino apps and that made them an attractive takeover candidate. Tipico’s technology infrastructure, U.S.-facing management, and trading teams operating in Europe, Colombia, and the United States have all been acquired by LeoVegas. With the exception of regions where BetMGM and Entain operate as a joint venture, the acquisition will enable LeoVegas to run a proprietary sportsbook across international markets and brands.

Tipico will no longer take bets, deposits, or new accounts as of June 26. Bettors with outstanding sums are urged to cash out as soon as feasible. Future bets are still pending. All player accounts will expire in the third quarter of 2024, when the LeoVegas deal is anticipated to finalize.

MGM purchased LeoVegas in 2022, and Kambi technology has been utilized by the company. It will be able to use its own exclusive software thanks to the agreement. Tipico was a well regarded New Jersey online casino, considered on par with many major players in the market. 

“For the last four years, Tipico has worked tirelessly to build a market-leading sports platform and the No.1 casino by Eilers & Krejcik Gaming. Despite the growing pains of being a small startup, we still found a way to grow and innovate our technology to provide a world-class customer experience.” the company said in a message to customers. 

The Swedish-based company offers online casinos, live casinos, and sports betting across 10 jurisdictions. “I look forward to welcoming the talented teams from Tipico’s U.S. business into the LeoVegas Group very soon.” CEO Gustaf Hagman said in a statement.Check out the latest sports betting odds at BetMGM.