{"id":1585863,"date":"2024-06-25T10:59:55","date_gmt":"2024-06-25T14:59:55","guid":{"rendered":"https:\/\/sports7.us\/?p=1585863"},"modified":"2024-06-25T10:59:55","modified_gmt":"2024-06-25T14:59:55","slug":"tipico-to-close-u-s-sportsbook-casino-operations-after-being-acquired-by-mgms-leovegas","status":"publish","type":"post","link":"https:\/\/sports7.us\/news\/tipico-to-close-u-s-sportsbook-casino-operations-after-being-acquired-by-mgms-leovegas\/","title":{"rendered":"Tipico To Close U.S. Sportsbook & Casino Operations After Being Acquired By MGM's LeoVegas"},"content":{"rendered":"

Tipico will close its U.S. sportsbook and online casino<\/a> operations after being acquired by LeoVegas, MGM Resorts International's subisidary. The agreement covers both the product and technology platform that power Tipico\u2019s online sports betting<\/a> and casino in the U.S.<\/p>\n

Tipico will end its New Jersey online casino, in addition to its operations in Colorado, Iowa, and Ohio<\/h2>\n

As part of the transaction, LeoVegas will acquire certain of Tipico\u2019s U.S.-facing management, technology, and trading teams in the U.S., Colombia, and Europe. Tipico will end its New Jersey online casino, along with its sportsbook there, and operations in three other states: Colorado, Iowa, and Ohio.<\/p>\n

LeoVegas CEO Gustaf Hagman said in a MGM Resorts International news release:<\/p>\n

\u201cBy controlling our own sportsbook technology, we ensure that we will deliver the world\u2019s greatest iGaming experience to customers across all our 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.\u201d<\/p>\n

According to MGM's press release, the agreement will enable LeoVegas to operate a \u201cpurpose-built proprietary sportsbook\u201d across all international markets and brands. In fact, the exceptions are those exclusive to the BetMGM joint venture with Entain.<\/p>\n

MGM Resorts International completed its $600 million purchase of LeoVegas in 2022<\/h2>\n

Moreover, MGM Resorts International President Gary Fritz said:<\/p>\n

\u201cThe acquisition of Tipico\u2019s award-winning US platform marks a significant milestone in the strategic development of MGM Resorts\u2019 global digital gaming business, allowing us to operate a proprietary sports betting platform.<\/p>\n

“This acquisition gives us control of our entire technology ecosystem, and we are delighted to bring Tipico\u2019s US team, with their track record of developing high-quality product and pricing capabilities, into our business.\u201d<\/p>\n

In 2022, MGM completed its purchase of LeoVegas for $600 million. The acquisition marked LeoVegas\u2019s second major investment, after its acquisition of game developer Push Gaming in May 2023.<\/p>\n

Last week, MGM Resorts also announced a partnership with Playtech to offer live casino content to online casino operators, including those in regulated markets outside the U.S.<\/p>\n

The live casino content, MGM Live, will stream directly from two of MGM Resorts\u2019 most recognized properties \u2013 MGM Grand and Bellagio Resort & Casino in Las Vegas.<\/p>\n","protected":false},"excerpt":{"rendered":"

Tipico will close its U.S. sportsbook and online casino operations after being acquired by LeoVegas, MGM Resorts International's subisidary. The agreement covers both the product and technology platform that power Tipico\u2019s online sports betting and casino in the U.S. Tipico will end its New Jersey online casino, in addition to its operations in Colorado, Iowa, […]<\/p>\n","protected":false},"author":305,"featured_media":1585877,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[447316,1],"tags":[447431,447430,66144,447423,447424,447426],"acf":[],"yoast_head":"\nTipico To Close U.S. Sportsbook & Casino Operations After Being Acquired By MGM's LeoVegas<\/title>\n<meta name=\"description\" content=\"Tipico will close its U.S. sportsbook and online casino operations after being acquired by LeoVegas, MGM Resorts International's subisidary.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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