LeoVegas To Acquire Online Gambling Assets of Tipico

It's no mistake that there has been a shuffling of online casino & sportsbook ownership within the U.S. online gambling community. It's a positioning effort in anticipation of online casino gambling getting ready to explode while sports betting continues its drive to get at least 45 states in the fold.

Just a week after Caesars Digital purchased the online casino assets of WynnBet in Michigan, LeoVegas has made the leap with an announcement of the company's intention to purchase the online gambling assets of Tipico. It's noteworthy that while LeoVegas was purchased by MGM Resorts International in 2022, this will be the first major asset purchase done under the LeoVegas brand. There was a lesser purchase done in 2023 with the purchase of a majority interest in Push Gaming Holding Limited.

About the Acquisition

The acquisition is expected to be fully consummated before the end of the 3rd quarter of this year. Before that happens, management at Tipico is expected to completely wind down its U.S. operations in four (4) states: Colorado, Iowa, New Jersey, and Ohio.

At this point, LeoVegas' intentions are clear. They are looking to purchase a ready-made online casino and sportsbook platform that they can use as a catalyst to enter the U.S. online gambling market. There are indications the company is also planning to take the platform internationally. In a press release, Gary Fritz, president of MGM Resorts International Interactive had this to say:

"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.”

BetMGM Has Been Very Busy

As indicated above, there has been a lot of positioning taking place within the U.S. online gambling market. Yes, MGM Resorts International has been participating heavily in that position as evidenced by the Push Gaming and Tipico acquitions.

In another highly anticipated move, it was just last week that MGM Resorts announced the creation of a partnership with Playtech. Playtech has long been considered one of the top online casino software developers in the world. This partnership was created to give MGM's online casinos access to Playtech's growing library of live online casino games. As an added bonus, the live casino operations will be set up so that MGM can stream live from its own iconic retail properties, the MGM Grand and Bellagio Resort & Casino in Las Vegas.

In an interesting twist, MGM plans to have its live casino content licensed in Mexico and the UK as well as other countries in the future. It's all intended to give MGM access to international online gambling markets all over the world. The only caveat to this access is the need to avoid direct markets where Entain operates under a joint venture agreement with BetMGM. It's a bold mood and further evidence that U.S. online gambling concerns are starting to look outward to expand on presence within the international online gambling scene.