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LeoVegas, a subsidiary of MGM Resorts International, has seized control of Tipico’s U.S. products and technology platform. This move underscores MGM Resorts’ strategic push into global digital gaming. The acquisition, which excludes markets already served by BetMGM’s joint venture with Entain, marks a pivotal moment for MGM Resorts’ digital gaming business.
Gary Fritz, President of MGM Resorts International Interactive, emphasized the significance: “This acquisition gives us control of our entire technology ecosystem, and we are delighted to bring Tipico’s U.S. team…into our business.”
Effective June 26, Tipico will cease accepting bets, deposits, and new accounts in the U.S. While existing players are encouraged to withdraw their balances, pending wagers will be resolved in due course. The closure of player accounts will coincide with the completion of the LeoVegas deal in the third quarter of 2024.
In a message to customers, Tipico reflected on its journey: “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.”
LeoVegas plans to leverage Tipico’s management, technology, and trading teams across multiple regions, including the U.S., Colombia, and Europe. This move aligns with LeoVegas’ broader strategy to strengthen its sportsbook offerings worldwide.
LeoVegas, acquired by MGM Resorts in 2022, has been enhancing its portfolio, recently acquiring game developer Push Gaming in September 2023. Gustaf Hagman, CEO of LeoVegas, highlighted their vision: “By controlling our own sportsbook technology…we will deliver the world’s greatest iGaming experience.”
“I look forward to welcoming the talented teams from Tipico’s U.S. business into the LeoVegas Group very soon,” Hagman added.