MGM Resorts International, a U.S.-based casino operator, announced that its subsidiary, LeoVegas Group, has agreed to acquire the product and technology platform that makes up the U.S. sportsbook and online casinos from Tipico Group.
As part of the deal, LeoVegas said in a press release on Monday that it would acquire Tippico’s “U.S. face-to-face management, technology and trade teams across the United States, Colombia and Europe.”
“Tipico will close its U.S. operations prior to completion of the acquisition,” it added in the release. 무료슬롯사이트
The acquisition will allow LeoVegas to “operate purpose-built, proprietary sportsbooks in all international markets and brands,” the update said, with the exception of the exclusive gamebooks of BetMGM LLC, a U.S.-wide sports betting and i-gaming operator co-owned by MGM Resorts and Entain.
MGM Resorts is the parent company of Macau casino company MGM China Holdings. The parent company is also leading the development of casino resort projects in Osaka, Japan.
CBRE Capital Advisors Inc said in a note on Monday that the acquisition of Tifico “solidified the fourth pillar of MGM’s digital strategy, providing a proprietary online sportsbook (OSB) and currently filling a key void in digital services.”
CBRE analysts John DeCree and Max Masi wrote, “Since acquiring LeoVegas in 2022, [MGM Resorts] management has carefully established a digital strategy aimed at a self-sustaining business with content, live dealers, scalable platforms, and now a proprietary OSB technology stack.”
MGM Resorts acquired LeoVegas in November 2022 with LeoVegas’ solid digital business team. In September last year, the casino company acquired Push Gaming, providing “leading gaming to more than 200 operators worldwide,” according to CBRE.
The agency noted that the third axis of MGM Resorts in digital business is live casino content “secured through a partnership with Playtech last week.”
Live casino content is streamed directly from the game floor of two of MGM Resorts’ Las Vegas strip assets and branded as “MGM Live.” The content can be licensed in regulated markets worldwide outside the United States.
“The control capabilities provided by the Tipico OSB technology stack are critical to expanding MGM/LeoVegas in multiple jurisdictions,” CBRE said.
“The acquisition of a sub-scale OSB platform in the United States has generally failed so far,” the agency noted. “However, MGM is currently focused on international markets, and perhaps the utilities and experience it needs will one day be available in the United States,” it added.