MGM Eyes Acquisition of German Bookmaker Tipico’s American Operations
Kate Marshal
03 May 2024
Comment 0
The American division of German bookmaker Tipico is reportedly on the market, with MGM Resorts International leading the race for acquisition, as per Casino.org.
The dominant ownership stake of Tipico is owned by the private equity and investment advisory firm CVC Capital Partners. Some media reports suggest that CVC is even considering selling the entire bookmaker.
CVC Capital Partners has placed a valuation of $3.75 billion on Tipico, but the specific value of Tipico’s US assets has not been disclosed.
Currently, Tipico offers online sports betting in four US states: Colorado, New Jersey, Iowa, and Ohio. Additionally, the bookmaker provides online casino services to users in New Jersey.
The reasons behind MGM Resorts International’s interest in Tipico have not been specified, and representatives of the American gambling company have not confirmed their intention to acquire the German bookmaker.
However, acquiring Tipico could be a strategic move for MGM, not just for the US assets, but also for the European ones. It’s worth noting that MGM Resorts International recently entered the UK market under the BetMGM brand, with plans to launch in the Netherlands.
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