Tipico Group Ltd. announces agreement to sell its U.S. Sportsbook and Online Casino platform

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  • Tipico announces agreement to sell its award-winning U.S. platform
  • Tipico will wind down its U.S. operations
  • Transaction is subject to regulatory and customary approvals

Tipico Group Ltd. today announced that it has entered into an agreement to sell its product and technology platform constituting the U.S sportsbook and online casino to LeoVegas Group, part of MGM Resorts International. Tipico will wind down its U.S. operations prior to the closing of the acquisition. As part of the transaction, LeoVegas will acquire certain of Tipico U.S. management, technology and trading teams across the US, Colombia, and Europe.

“For five years Tipico Group has heavily invested in the creation of its own proprietary sports betting and gaming platform for the U.S., working with some of the best talent to achieve excellence. On behalf of the board of Tipico Group I want to thank the teams in our U.S. operations for the last years of dedication, innovation and passion, that made our U.S. sportsbook and Online Casino platform the attractive venture it is today.”, says Joachim Baca, CEO of Tipico Group.

Adrian Vella, CEO of Tipico U.S. adds: “After an exciting journey of constant development, progress and unwavering belief in creating an excellent product offering, today marks the start of a new interesting chapter! Tipico has proven in one of the most competitive markets in the world that we can build proprietary technological solutions, whilst running sophisticated lean operations. Our rise from a start-up to an award-winning platform makes me very proud and I want to thank all my team, who made this story possible!”

Moelis & Company acted as exclusive financial advisor to Tipico Group Ltd. on this transaction.

The transaction is subject to regulatory and customary approvals and is expected to be completed in the third quarter of 2024.