Mcb777 AffiliateMGM Subsidiary Acquires Tipico Ahead of U.S. Exit

The LeoVegas sponsor on the Blackpool home shirt as we look at its acquisition of Tipico. — The LeoVegas sponsor on the Blackpool home shirt during the Emirates FA Cup match Bromley FC vs Blackpool on Nov. 4, 2023. Photo by Gareth Evans/News Images via Imagn.

European-based Tipico Sportsbook has been in discussions with providers to sell its U.S. operations as far back as 2022. The time has finally come, and the subsidiary of one of our best real-money online casinos is the one to make it happen.

MGM Resorts International reported on Monday that LeoVegas, a subsidiary of the company, has come to terms to acquire Tipico's U.S. sportsbook and casino platforms. Tipico had been previously tabbed as one of our best mobile casino apps.

We reported on the MGM/LeoVegas connection to the struggling brand weeks ago.

The deal

Neither party disclosed the financial terms of the acquisition, but we do know what LeoVegas has added to its portfolio.

LeoVegas has picked up Tipico's products and technology platform, its U.S.-facing management, and its trading teams that operate across the United States, Colombia, and Europe.

The acquisition will allow LeoVegas to operate a proprietary sportsbook across international markets and brands, except in areas where BetMGM operates in a joint venture with Entain.

Tipico's future

As of June 26, Tipico will stop accepting new accounts, bets, and deposits. Future wagers have yet to be resolved, and bettors with remaining balances are encouraged to cash out as soon as possible.

“For the last four years, Tipico has worked tirelessly to build a market-leading sports platform and the No.1 casino by Eilers & Krejcik Gaming. 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.” the company said in a message to customers.

The deal with LeoVegas is expected to close in the third quarter of 2024, and all player accounts will close then.

LeoVegas

LeoVegas was acquired by MGM in 2022 and has been using Kambi technology. The deal will allow it to have its own proprietary software. Tipico was a top-rated New Jersey online casino, rated as highly as many industry behemoths. It's a big pickup for LeoVegas.

MGM Interactive president Gary Fritz said, “The acquisition marks a significant milestone in the strategic development of MGM Resorts’ global digital gaming business.”

The Swedish-based company offers online casinos, live casinos, and sports betting across 10 jurisdictions. CEO Gustaf Hagman stated, "I look forward to welcoming the talented teams from Tipico's U.S. business into the LeoVegas Group very soon."

Written By:
Andrew Reid

Andrew is a Publishing Editor at Sportsbook Review. He graduated from Acadia University with a degree in Kinesiology, working as a personal trainer and in injury rehab, and then attended the College of Sports Media in Toronto to attain a diploma in Radio and Television Sports Broadcasting. Andrew has been involved in the sports betting and fantasy sports space since joining the FNTSY Sports Network in 2014, where he worked as a producer, director, and occasional on-air talent on various shows focusing on sports betting and DFS content. Prior to joining SBR, he spent multiple years with the USA Today Network as an editor and writer. Living in Newfoundland, Andrew frequents grey market sportsbooks, but in the past, when he's lived in regulated areas, he's become well-versed with all of our best sportsbooks. As strictly a casual bettor, he enjoys making touchdown parlays with friends (bro-lays), sweating out golf cut parlays during majors, playing same-game parlays for fun, and chasing long-shot bets. He also enjoys using sportsbooks that have solid iGaming and casino platforms. As the old guy on staff, he has an affinity for industry news, which confuses some, but shh ... quiet ... the news is on.