LeoVegas Acquires American Gambling Operator Tipico
MGM Resorts has announced that its subsidiary LeoVegas has entered into an agreement to acquire the product and technology platform used by gambling company Tipico for its US sportsbook and online casino.
Tipico was founded in Germany in 2004, after which the online casino established its headquarters in Malta years later. Tipico has now shifted its focus to the United States. Tipico’s platform is not available in New Zealand. Gambling operator LeoVegas can be accessed by players from New Zealand and offers a casino, live casino, and sportsbook.
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American Activities
Tipico has licences to operate in different states in the US. Tipico launched its own sportsbook and online casino platform in New Jersey, Iowa, Ohio, and Colorado. More than three years later, the first rumours emerged that Tipico wanted to sell its American product and technology platform, as stated in the Earnings+More newsletter.
“The acquisition of Tipico’s award-winning US platform marks an important milestone in the strategic development of MGM Resorts’ global digital gaming business, allowing us to operate a proprietary sports betting platform. This acquisition gives us control of our entire technology ecosystem and we are excited to bring Tipico’s US team, with their track record of developing high-quality products and pricing capabilities, into our business.”
Gary Fritz, MGM Resorts
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Gustaf Hagman, CEO of LeoVegas added:
“By controlling our proprietary sportsbook technology, we ensure that we deliver the world’s best online gambling experience to customers across all our markets and brands. By providing our strong brands with a competitive and innovative sports product, we can grow and strengthen our sportsbook offering in both new and existing markets. I look forward to welcoming the talented teams from Tipico’s US operations to the LeoVegas Group soon.”
Gustaf Hagman, LeoVegas
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Key Growth Drivers of MGM
MGM Resorts, a prominent player in the gaming and hospitality sector, is strategically positioned for growth due to its strong brand recognition. On the gaming front, the company’s consistent emphasis on sports betting and iGaming has spurred significant revenue increases and facilitated entry into new markets. Since its launch in 2018, BetMGM has steadily gained market share and now operates in 28 markets.
MGM Resorts has strengthened its digital footprint through the acquisition of LeoVegas in 2022. On May 1, 2023, MGM announced that LeoVegas had made its first major investment by acquiring a majority stake in game provider Push Gaming. This move bolstered MGM’s expansion into international markets and online gaming, reinforcing its omnichannel strategy and enhancing earnings through the integration of brick-and-mortar and online operations.
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About LeoVegas
LeoVegas AB offers an extensive range of online casino products and sports betting services. Their offerings encompass table games, online pokies, progressive jackpots, and video poker. Whilst the operator is headquartered in Stockholm, Sweden, the “LeoVegas” brand is managed by LeoVegas Gaming Ltd, based in Malta. Technical development is spearheaded by Gears of Leo, a subsidiary located in Sweden. The company also maintains offices in Italy, Poland, and the United Kingdom.
LeoVegas is on a rapid growth trajectory, employing over 1,400 people throughout Europe. Its main headquarters is in Stockholm, with a significant operations hub in Malta. Known for its innovative approach, LeoVegas fosters and invests in other igaming ventures via its investment arm, LeoVentures. In 2022, LeoVegas became part of the global entertainment operator, MGM Resorts International. In the same year BetMGM launched a European gambling platform in the UK. In April 2024, BetMGM expanded to the Netherlands.
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