Tipico's time in the U.S. market has come to an end.it has acquired Tipico’s products and technology platform, with a plan to operate a purpose-built proprietary sportsbook across all international markets and brands.Financial terms of the deal were not announced.
“The 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.
The deal with LeoVegas is expected to close in the third quarter of 2024. At that time, Tipico will have all player accounts closed. “For the last four years, Tipico has worked tirelessly to build a market-leading sports platform and the No.1 casino by Eilers & Krejcik Gaming,” the company said in a message to customers. “Despite the growing pains of being a small startup, we still found a way to grow and innovate our technology to provide a world-class customer experience. The payoff now is that more bettors will get to enjoy using our platform.
“By controlling our own sportsbook technology, we ensure that we will deliver the world's greatest iGaming experience to customers across all our markets and brands,” LeoVegas CEO Gustaf Hagman said. “Powering our strong brands with a competitive and innovative sports product will enable us to grow and strengthen our sportsbook offering in both new and existing markets.