MGM Resorts International, through its subsidiary LeoVegas Group, recently announced a new acquisition plan in the digital gaming sector. LeoVegas is also considering the acquisition of Tipico Group Ltd.’s sports betting US platform as part of its ongoing investment in this sector. This would be the second significant move for the company, following the 2023 acquisition of Push Gaming, a game developer.
The integration plan stipulates that Tipico cease operations in the United States before the acquisition is completed. LeoVegas will then integrate Tipico’s management, technology, and trading teams from the United States, Colombia, and several parts of Europe into its business lines.
According to MGM Resorts International Interactive President Gary Fritz, this acquisition was very important because it enables the company to own and manage all of its technology systems directly. He also showed passion about joining their company with Tipico’s highly-rated team, which is known for its excellent products and competitive prices.
This expansion plan aims to position MGM Resorts as one of the best online casino sites in the US, highlighting its dedication to leading the market through creative and quality-driven strategies.
Transitional changes will require Tipico to end US operations before the transaction. LeoVegas plans to incorporate Tipico’s managerial, technological, and trading workforce from many geographic regions, including the United States, Colombia, and Europe, into its own setup. MGM Resorts International Interactive President Gary Fritz emphasized the significance of this transaction, which enables ownership of a technology stack. He also added that he is excited to introduce Tipico’s well-regarded workforce, competitive product portfolios, and pricing advantage to their firm.
Gustaf Hagman, LeoVegas’ CEO, said the latest acquisition gave the business full ownership of its sportsbook technology. This will allow them to deliver the best online gaming experience to their customers in all markets and for all of the company’s brands. He also stressed how it has the potential to expand and improve LeoVegas’s sportsbook portfolio in existing and new markets, making it a very strategic acquisition for the company.
MGM Live, a partnership between MGM Resorts and Playtech, will innovate the iGaming sector with innovative live casino offerings. The renowned MGM Grand and Bellagio Resort & Casino in Las Vegas will stream live gaming experiences through this partnership. This initiative aligns MGM Resorts’ stellar reputation with Playtech’s gaming and technology capabilities.
MGM Resorts CEO and President Bill Hornbuckle expressed his excitement about the new alliance. He added that this new live casino fits their goal of being the world’s leading gaming entertainment organization. MGM Live will initially include roulette and baccarat, but Playtech games will be added soon. Additionally, they plan to provide unique and captivating content and programs that showcase the allure of Las Vegas.
Along with these developments, Tipico introduced its new CEO, Axel Hefer. He will succeed Joachim Baca, who will be chairman of the supervisory board. Under new management, the company continues to strive and evolve while maintaining its position as a technical leader in the gaming industry. Tipico has established itself as the market leader in sports betting in Germany under Baca’s leadership and has also set high standards in product and technological innovation.
MGM Resorts International and Tipico Group Ltd. expect to complete the partnership plan during the third quarter of 2024, subject to the company’s closing conditions. This acquisition is not only a promising expansion for LeoVegas but also demonstrates MGM Resorts’ commitment to maintaining its leadership in the increasingly saturated and competitive landscape of the US online casino market.
