MGM Resorts announced Monday that its subsidiary, LeoVegas Group, has entered into an agreement to acquire the product and technology platform comprising the U.S. sportsbook and online casino from Tipico Group Ltd.
The announcement comes roughly two months after reports surfaced on MGM's interest in acquiring the Malta-headquartered company's U.S. platform. The news may also rekindle speculation that MGM Resorts is considering a breakup with Entain, another European company that owns a 50% stake in BetMGM.
Formed six years ago, BetMGM is a joint venture between the entities. The acquisition of Tipico’s U.S. platform is the second major investment by LeoVegas, following the acquisition of game developer Push Gaming in 2023.
MGM completed a $600 million acquisition of LeoVegas, an iGaming-focused company, a year earlier.