Tipico Group to Sell U.S. Sportsbook and Online Casino to LeoVegas Group

Tipico Winds Down U.S. Assets

This move will see Tipico winding down its U.S. operations prior to the completion of the acquisition. LeoVegas will integrate key management, technology, and trading teams from Tipico’s operations across the U.S., Colombia, and Europe.

Joachim Baca, CEO of Tipico Group, expressed his gratitude towards the U.S. teams: “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.”

Adrian Vella Reflects on the Journey

Moelis & Company acted as the exclusive financial advisor to Tipico Group Ltd. on this transaction. The deal is now subject to regulatory and customary approvals and is expected to be completed in the third quarter of 2024.

Adrian Vella, CEO of Tipico U.S., reflected on the journey and future prospects: “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 while 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!”