LeoVegas, the subsidiary of MGM Resorts International, has completed a deal to acquire Tipico, the online sports betting and casino operator active in four US states.
The move strengthens MGM’s position in North America while delivering a boost as the brand continues its march into European markets. Tipico is expected to wind down its US operations and fully exit by the end of September having been active in Colorado, Iowa, Ohio and, most notably, the ultra-competitive iGaming space in New Jersey.
The acquisition means that not only does LeoVegas gain tech that will enable it to better compete across the US and Europe, but the company will bring in Tipico’s existing management and trading personnel. MGM Resorts bought out LeoVegas in 2022.
Speaking about the deal, MGM Interactive president, Gary Fritz, said the purchase of Tipico will allow the group to produce its own technology ecosystems:
“The acquisition marks a significant milestone in the strategic development of MGM Resorts’ global digital gaming business. It allows us to operate a proprietary sports betting platform.”
BetMGM, one of the best NY sportsbooks, operates on Entain platforms in the US in a joint venture agreement. The acquisition of Tipico and its tech stack enables MGM via LeoVegas to go head-to-head with Entain in other parts of the world, most notably in Europe.
Speculation continues about whether MGM and Entain will remain partnered in North America. The addition of Tipico will only further question marks over the longer-term future of the relationship between the pair.
Hot on the heels of that strategic M&A move by LeoVegas came news of further expansion and partnership deals with top sporting clubs in Europe, underlining the brand’s march across the continent.
In the last week, LeoVegas completed an extension to its commercial deal as official betting partner to Newcastle United. The arrangement will increase BetMGM brand visibility at the English Premier League team’s St James Park stadium. BetMGM has entered a similar agreement with Wolverhampton Wanderers, cementing its status among the top soccer betting sites.
BetMGM has also entered into its biggest sponsorship move in the UK market by gaining exclusive rights to display its logo on the training kits of Tottenham Hotspur. BetMGM will also be the sole betting associate of the club that finished fifth in the EPL last season.
Elsewhere, BetMGM recently launched in the Netherlands, adding a second European nation to its portfolio following its success in the UK since going live there in August 2023.
