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BetMGM Expands Global Reach with Strategic Acquisitions

BetMGM, through its subsidiary LeoVegas, has acquired Tipico’s US operations, significantly boosting its presence and capabilities in the global betting industry.

Key Highlights:

  • LeoVegas now owns Tipico’s US product and technology platform.
  • BetMGM enhances its proprietary sportsbook with new technology and management teams.
  • Recent acquisitions include Push Gaming and a partnership with Playtech for MGM Live.
  • MGM aims to strengthen its position in international markets, eyeing future expansion in the US.

BetMGM Building To Strengthen Worldwide Brand

The recent purchase of Tipico’s US operations by BetMGM subsidiary LeoVegas is creating a buzz in the betting industry that’s extending well beyond the shores of America.

LeoVegas has acquired Tipico’s product and technology platform for both their US sportsbook and online casino. As well, they are also bringing aboard a selection of Tipico’s US facing management, technology and trading teams that are working across the US, Colombia and in Europe.

Known first and foremost for their online casino operation, this acquisition will enable LeoVegas to operate a purpose-built proprietary sportsbook across all international markets and brands. 

“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,” LeoVegas CEO Gustaf Hagman said in a statement.

Tipico Latest MGM Addition

There’s been a significant period of acquisitions within the online gaming industry by MGM Resorts International. They are partners in the BetMGM online brand with Entain. While MGM provides the brand name, it has been Entain which powers the necessary technology.

That situation, though, is changing rapidly.

“This acquisition gives us control of our entire technology ecosystem,” Gary Fritz, president of MGM Resorts International Interactive, said in a statement following the closing of the Tipico deal.

Slowly but steadily, the BetMGM brand has been enhancing the company’s ability to supply their own online platforms. This move began with the acquisition of LeoVegas in November of 2022. Headquartered in Stockholm with an operations hub in Malta, LeoVegas is a prominent online casino player in the European market, including the UK. Another emerging market they are eyeing is Brazil, which is anticipated to be launching legal and regulated online gambling later this year.

Next came the addition of Push Gaming in September of 2023. This acquisition gives BetMGM its own online game developer, a company that is providing more than 200 online casino games worldwide. 

More recently, MGM partnered with Playtech to create their own live casino brand. Called MGM Live, the live dealer studios will be streamed from locations in the Bellagio and MGM Grand brick and mortar casinos in Las Vegas. To start out with, these live dealer studios will be serving the UK market, as well as Mexico. With MGM’s connections in the entertainment industry, there’s even speculation that these live dealer studios could eventually include celebrity-driven competitions, even versions of popular TV game shows.

Through these acquisitions, the MGM brand is transitioning into a self-sustaining online model. 

Focus On Europe . . . For Now

Initially, these additions to the BetMGM empire are being made with designs on increasing the company’s footprint in the UK gambling market via betMGM UK and Europe, as well as in emerging world markets.

Industry insiders are of the belief that MGM’s long game is to gain controlling interest in BetMGM, circle back to the US market and armed with their deep bench of technological assets, take a run at grabbing a larger piece of the US betting landscape away from the two powerhouses in the American industry, FanDuel and DraftKings.

“MGM’s progress is noteworthy,” John DeCree, head of equity research for CBRE, wrote in an analysis following the latest deal. “MGM is currently focused on international markets and perhaps amassing the necessary utilities and experience to one day leverage in the US.”