LeoVegas and Tipico Group Reach Agreement Regarding the Sale of Tipico’s US-Focused Products

LeoVegas Group and Tipico Group have announced that they have reached an agreement regarding Tipico’s US-focused products. Both companies published separate announcements on their websites on June 24 revealing that LeoVegas Group will take over Tipico’s US sportsbook and online casino platform.

This step marks LeoVegas's second major investment after acquiring Push Gaming in 2023. For Tipico, the decision to let go of the two products signals a slowdown in the brand’s American operations.

Clean and Fast Consumer Experience in the Focus

In the LeoVegas Group’s announcement, the company highlighted that the new sportsbook would enable the Group to operate across all international markets and brands, with the sole exception being any exclusive markets tied to the BetMGM joint venture.

LeoVegas emphasized its focus on delivering a clean, fast consumer experience, describing the product’s functionality and pricing as top-class.

The acquisition includes:

• Tipico’s American facial management, technology, and trading teams located in the US, Europe, and Colombia

• A purpose-built proprietary sportsbook to strengthen LeoVegas’s global presence

• Continued development of cutting-edge iGaming products under the LeoVegas brand

In addition, the Group released a video featuring Gustaf Hagman (COO) and Mattias Wedar (Chief Product and Technology Officer) to introduce the acquisition.

In May 2023, LeoVegas announced the acquisition of a majority share in Push Gaming, finalized in September 2023, marking the company’s first major investment since joining MGM Resorts a year earlier.

Transaction Subject to Regulatory and Customary Approvals

According to Tipico Group’s announcement, the transaction is subject to regulatory approvals and expected to be completed in Q3 2024.

Tipico stated that it would “wind down” its American operations leading up to the finalization of the acquisition. In addition to the sportsbook, Tipico’s online casino platform will also be included in the transfer.

Key comments from Tipico executives:

• Joachim Baca (former CEO): thanked the US teams for their dedication, innovation, and passion in building Tipico’s proprietary platform.

• Adrian Vella (CEO, Tipico US): described the agreement as the start of a new and exciting chapter for the company.

• Alex Hefer (new CEO): appointed on June 16, succeeding Baca, who became Supervisory Board Chairman.

Tipico’s leadership transition:

• Alex Hefer promoted to CEO after serving as COO

• Joachim Baca moved to Supervisory Board Chairman

• Both expressed optimism about the company’s future direction

Conclusion

The acquisition marks a pivotal move for LeoVegas, strengthening its presence in the global iGaming market, while Tipico begins a new chapter with leadership changes and a strategic retreat from US operations.