MGM Resorts International buys Tipico Group

LeoVegas Group, a company owned by MGM Resorts International, has revealed its plans to purchase Tipico Group, a US sportsbook and online casino platform. The deal is set to be finalised by the end of the fourth quarter of 2021.

Neither MGM nor Tipico have discussed the financial aspect. The focus is on the product and the Tipico technology platform. LeoVegas will also gain a team of Tipico professionals in the USA, Colombia, and Europe.

Under the agreement, Tipico will wind down its U.S. operations prior to the closing of the transaction. The operator currently operates in Colorado, Iowa, New Jersey and Ohio.

“This transaction gives us control over our entire technology ecosystem. We are pleased to bring Tipico's US team to our business with their experience developing high-quality products and pricing capabilities,” said MGM Interactive President Gary Fritz. He also added that this acquisition marks an important milestone in the strategic development of MGM Resorts.

This marks LeoVegas' second significant purchase following its acquisition by MGM. In September, LeoVegas acquired game developer Push Gaming, and the recent partnership with Playtech has strengthened the company's reach even more.

Additionally, MGM is gearing up to introduce MGM Live, which will feature live dealer games from the Bellagio and MGM Grand in Las Vegas.