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MGM Resorts International to Acquire Tipico’s US Online Sports Betting Operations

PUBLIC · MGMJun 24, 2024

Acquiring Company

MGM Resorts International

Acquired Company

Tipico Group

Las VegasMedia And EntertainmentGamingSportsHospitalityHotelGamingGamblingCasino

Description

MGM Resorts International has announced its acquisition of the US online sports betting operations of Tipico Group Limited. The move is aimed at strengthening MGM's global digital gaming division and providing LeoVegas with its own proprietary sports betting product. The deal is expected to close in the third quarter of this year pending necessary approvals.

Quick answer

MGM Resorts International is acquiring Tipico Group, announced June 24, 2024. MGM Resorts International is based in Las Vegas, Nevada, United States.

How much did MGM Resorts International pay for Tipico Group?
The deal value was not disclosed.
What does MGM Resorts International do?
MGM Resorts International (NYSE: MGM) is an S&P 500® global entertainment company with national and international locations featuring best-in-class hotels and casinos, state-of-the-art meetings and conference spaces,..
Where are MGM Resorts International and Tipico Group based?
MGM Resorts International is based in Las Vegas, Nevada, United States.
Who are the decision-makers at MGM Resorts International?
Fundz holds 1 contact at MGM Resorts International. Names and contact details are shown to Fundz members.

Source: Fundz verified event record.

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Company Information

Company

MGM Resorts International

Location

Las Vegas, Nevada, United States

About

MGM Resorts International (NYSE: MGM) is an S&P 500® global entertainment company with national and international locations featuring best-in-class hotels and casinos, state-of-the-art meetings and conference spaces, incredible live and theatrical entertainment experiences, and an extensive array of restaurant, nightlife and retail offerings. MGM Resorts creates immersive, iconic experiences through its suite of Las Vegas-inspired brands. The MGM Resorts portfolio encompasses 31 unique hotel and gaming destinations globally, including some of the most recognizable resort brands in the industry. The Company's 50/50 venture, BetMGM, LLC, offers U.S. sports betting and online gaming through market-leading brands, including BetMGM and partypoker, and the Company's subsidiary LeoVegas AB offers sports betting and online gaming through market-leading brands in several jurisdictions throughout Europe. The Company is currently pursuing targeted expansion in Asia through the integrated resort opportunity in Japan. Through its "Focused on What Matters: Embracing Humanity and Protecting the Planet" philosophy, MGM Resorts commits to creating a more sustainable future, while striving to make a bigger difference in the lives of its employees, guests, and in the communities where it operates. The global employees of MGM Resorts are proud of their company for being recognized as one of FORTUNE® Magazine's World's Most Admired Companies®. For more information, please visit us at www.mgmresorts.com. Please also connect with us @MGMResortsIntl on Twitter as well as Facebook and Instagram.

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Frequently asked

Who acquired Tipico Group?

Tipico Group was acquired by MGM Resorts International, based in Las Vegas. The deal was reported on June 24, 2024. MGM Resorts International is publicly traded (MGM) and operates in Media And Entertainment.

When did MGM Resorts International acquire Tipico Group?

MGM Resorts International's acquisition of Tipico Group was reported on June 24, 2024. MGM Resorts International has announced its acquisition of the US online sports betting operations of Tipico Group Limited. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.

What does Tipico Group do?

Tipico Group is a leading provider of sports betting and gaming services focusing on expanding its operations in European gaming markets. It is privately held, operating in Gaming.

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