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MGM Resorts to Acquire Tipico's U.S. Sportsbook Platform

MGM Resorts International's (NYSE: MGM) subsidiary, LeoVegas Group, is set to acquire the product and technology platform from Tipico Group Ltd constituting the U.S. sportsbook and online casino. Subject to customary closing conditions, this transaction is expected to close in the third quarter of 2024. This acquisition will help LeoVegas operate a purpose-built proprietary sportsbook across all international markets and brands, except those exclusive to the BetMGM JV. This strategic move will ensure LeoVegas offers a top-tier product with favorable pricing and functionality that enhances the consumer experience. Furthermore, as part of the acquisition, LeoVegas will acquire a few of Tipico's U.S.-facing management, technology, and trading teams across the United States, Colombia, and Europe. MGM Resorts believes this buyout marks a milestone in enhancing its global digital gaming business. It also positions LeoVegas to offer an exceptional iGaming experience to customers across all its markets and brands. Growth Drivers of MGM MGM Resorts, one of the leading companies in the gaming and lodging industry, is well-poised to grow on high brand awareness. Considering ...