{"id":323497,"date":"2024-06-24T02:19:13","date_gmt":"2024-06-24T07:19:13","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=323497"},"modified":"2024-06-24T10:07:32","modified_gmt":"2024-06-24T15:07:32","slug":"mgm-acquiring-tipico-us-sportsbook-operations","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/mgm-acquiring-tipico-us-sportsbook-operations\/","title":{"rendered":"MGM Acquiring Tipico’s US Sportsbook Operations"},"content":{"rendered":"

MGM Resorts International (NYSE: MGM) announced that it’s acquiring the US iGaming and sportsbook operations of Tipico Group.<\/p>\n

\"Fanatics
An ad for Tipico Sportsbook. MGM is acquiring the company’s US operations. (Image: Tipico)<\/figcaption><\/figure>\n

Financial terms of the transaction weren\u2019t revealed. The Las Vegas-based casino giant said its LeoVegas Group unit is the entity acquiring the aforementioned Tipico assets. MGM acquired LeoVegas in 2022<\/a> for more than $600 million.<\/p>\n

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,\u201d according to a statement issued by MGM.<\/p><\/blockquote>\n

Under the terms of the deal, Tipico will wind down its US operations and some members of the target’s domestic management, technology, and trading teams will join LeoVegas. The transaction is expected to close in the third quarter.<\/p>\n

Tipico Acquisition Bolsters MGM Technology<\/h2>\n

Germany-based Tipico, which is owned by private equity firm CVC Capital, offers sports wagering in just four states — Colorado, Iowa, New Jersey, and Ohio.<\/p>\n

The operator\u2019s share in Iowa and New Jersey is small enough that in some years it\u2019s been measured in hundreds of thousands of dollars. In Colorado and Ohio, Tipico found more success, but its revenue only exceeded $10 million in Ohio.<\/p>\n

\n

The decision to acquire Tipico isn\u2019t as much about bolstering BetMGM\u2019s market share<\/a> as it is about bringing more of the operator\u2019s technology needs in-house. Entain, which owns half of BetMGM, has long represented the technology side of the joint venture.<\/p>\n<\/div>\n

\u201cThe 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 of 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.”<\/p>\n

Long-Running Tipico Rumors Come to an End<\/h2>\n

Tipico has long been the subject of mergers and acquisitions speculation. In June 2022, reports surfaced that privately held Fanatics was considering<\/a> a purchase of the gaming company. That deal didn\u2019t materialize.<\/p>\n

\n

In April, rumors serviced that Tipico\u2019s US assets were for sale and that MGM was evaluating an offer. It remains to be seen if CVC looks to sell the remainder of Tipico, as there was speculation earlier this year that it was considering selling the gaming company in its entirety.<\/p>\n<\/div>\n

CVC has been the majority investor in Tipico for eight years. It\u2019s rumored the private equity shop valued all of Tipico at $3.75 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"

MGM Resorts International (NYSE: MGM) announced that it’s acquiring the US iGaming and sportsbook operations of Tipico Group. Financial terms of the transaction weren\u2019t revealed. The Las Vegas-based casino giant said its LeoVegas Group unit is the entity acquiring the aforementioned Tipico assets. MGM acquired LeoVegas in 2022 for more than $600 million. This acquisition […]<\/p>\n","protected":false},"author":46,"featured_media":218630,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,19,32093,1074,16693],"tags":[81903,81966,80968,82041],"acf":[],"yoast_head":"\nMGM Acquiring Tipico US Sportsbook Operations<\/title>\n<meta name=\"description\" content=\"MGM Acquiring Tipico US Sportsbook Operations.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/mgm-acquiring-tipico-us-sportsbook-operations\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MGM Acquiring Tipico US Sportsbook Operations\" \/>\n<meta property=\"og:description\" content=\"MGM Acquiring Tipico US Sportsbook Operations.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/mgm-acquiring-tipico-us-sportsbook-operations\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-24T07:19:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-24T15:07:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/tipico.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1440\" \/>\n\t<meta property=\"og:image:height\" content=\"864\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/mgm-acquiring-tipico-us-sportsbook-operations\/\",\"url\":\"https:\/\/www.casino.org\/news\/mgm-acquiring-tipico-us-sportsbook-operations\/\",\"name\":\"MGM Acquiring Tipico US Sportsbook Operations\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/mgm-acquiring-tipico-us-sportsbook-operations\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/mgm-acquiring-tipico-us-sportsbook-operations\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/tipico.jpg\",\"datePublished\":\"2024-06-24T07:19:13+00:00\",\"dateModified\":\"2024-06-24T15:07:32+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"MGM Acquiring Tipico US Sportsbook Operations.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/mgm-acquiring-tipico-us-sportsbook-operations\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/mgm-acquiring-tipico-us-sportsbook-operations\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/mgm-acquiring-tipico-us-sportsbook-operations\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/tipico.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/tipico.jpg\",\"width\":1440,\"height\":864,\"caption\":\"An ad for Tipico Sportsbook. 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