MGM Resorts announced that its subsidiary, LeoVegas, has acquired the product and platform of Tipico US for an undisclosed amount. Tipico will cease its US operations before the deal concludes in the third quarter of this year.

MGM Resorts stated that this acquisition will enable LeoVegas to operate its own custom-built sportsbook platform across all international markets and brands, except for those exclusive to the BetMGM joint venture. Currently, LeoVegas utilizes the Kambi platform.

From the press release:

This acquisition is the second major investment by LeoVegas, following the acquisition of game developer Push Gaming in 2023.

The acquisition will allow LeoVegas to operate a purpose-built proprietary sportsbook across all international markets and brands, with the exception of those exclusive to the BetMGM JV, with a focus on a clean, fast consumer experience with top-class product, pricing and functionality.

Tipico will wind down its U.S. operations prior to the closing of the acquisition. As part of the transaction, LeoVegas will acquire certain of Tipico's U.S. facing management, technology and trading teams across the U.S., Colombia and Europe.

"The acquisition of Tipico's award winning U.S. 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, President, MGM Resorts International Interactive, "This acquisition gives us control of our entire technology ecosystem, and we are delighted to bring Tipico's U.S. team, with their track record of developing high quality product and pricing capabilities, into our business."
Read more here: https://investors.mgmresorts.com/inv...k/default.aspx