In Order to Run In-House Sportsbook Across All Foreign Markets and Brands, LeoVegas Purchases Tipico’s US Betting Platform
The US sportsbook platform of Tipico has been acquired by LeoVegas Group, a division of MGM Resorts International.
MGM Resorts International (among the leading American international hospitality and entertainment businesses) declared that LeoVegas Group, a subsidiary, has signed a deal to purchase the online casino and sportsbook technology platform in the United States from Tipico Group (a global supplier of casino games and sports betting with its headquarters located in Malta). After acquiring game developer Push Gaming in 2023, this deal marks LeoVegas’ second investment.
LeoVegas (a Swedish mobile gaming company that also offers online sports betting and casinos) will be able to oversee a custom sportsbook across all foreign markets and brands—aside from those that are exclusive to the joint venture between BetMGM and—thanks to the acquisition. Tipico will shut down its US operations as part of the deal before the acquisition is completed. Tipico, which has offices in the US, Colombia, and Europe, will provide some of its technology, trading, and management teams with a focus on the US to LeoVegas.
LeoVegas, a stand-out Nordic betting operator, positions itself as a supplier of lightning-fast online betting odds and offers its customers a “betting bonus of a 100% profit boost up to £100”.
Transaction Is Expected to Be Completed in Q3 of 2024
The deal is anticipated to close in the third quarter of 2024, subject to usual closing conditions.
Beating rivals like bet365 and Sky Bet, LeoVegas’ BetMGM app topped the UK charts for free sports apps on the Apple App Store in March 2024. Furthermore, LeoVegas expanded its collaboration with Playtech to encompass the Dutch market in April 2024. With this partnership, Playtech’s gaming software, services, and platform technology will be available on LeoVegas’ platform in the Netherlands. This comes after Playtech’s successful launches in Ontario, the UK, Italy, Spain, Denmark, and Sweden.
