MGM Resorts subsidiary LeoVegas Group has entered an agreement to acquire Tipico Group’s US sportsbook and online casino.
This constitutes the second major investment by LeoVegas after the acquisition of game developer Push Gaming in 2023.
"The acquisition of Tipico's award-winning US 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 US team, with their track record of developing high-quality product and pricing capabilities, into our business."
The news comes just as Tipico Group announces a new chief executive officer. Joachim Baca is stepping down after eight years at the helm as Axel Hefer steps into the role.
Hefer previously served as chief operating officer at Tipico. Baca, meanwhile, will be taking over as chairman of the supervisory board.
“Over the past eight years, Joachim has done a remarkable job in advancing the development of Tipico and establishing it as an international sports betting and technology company,” said Daniel Pindur, managing partner of CVC and former chairman of the supervisory board of Tipico Group.
“We are grateful for his outstanding contributions and are pleased that he will continue to play a key role as chairman of the supervisory board.
"At the same time, we are delighted to have Axel as an experienced strategist and manager on board with Tipico. In his role as COO, Axel has proven he has the capabilities and vision to continue Tipico’s successful trajectory. We look forward to working together.”
