MGM Resorts International announces agreement to acquire Tipico Sportsbook in the US

LAS VEGAS, June 24, 2024 /PRNewswire/ — MGM Resorts International (NYSE: MGM) (“MGM Resorts” or the “Company”) announced today that its subsidiary, LeoVegas Group (“LeoVegas”), has entered into an agreement to acquire the product and technology platform that makes up the US and online sportsbook. casino by Tipico Group Ltd (“Tipico”).

This acquisition is the second major investment by LeoVegas, following the acquisition of game developer Push Gaming in 2023. The acquisition will allow LeoVegas to operate a proprietary purpose-built sportsbook in all international markets and brands, except to those exclusive to BetMGM JV, with a focus on a clean and fast customer experience with top-class products, pricing and functionality.

Tipico will close its US operations prior to the closing of the acquisition. As part of the transaction, LeoVegas will acquire certain of Tipico's US management, technology and merchandising teams throughout the US. Colombia AND Europe.

“The acquisition of the award-winning American platform Tipico marks an important milestone in the strategic development of MGM Resorts' global digital gaming business, allowing us to operate a proprietary sports BETS platform”, he said Gary FritzPresident, MGM Resorts International Interactive, “This acquisition gives us control of our entire technology ecosystem, and we are pleased to bring Tipico's US team, with their track record of high-quality product development and pricing capabilities, to , in our business.”

CEO of LeoVegas Gustaf Hagman added: “By mastering our sportsbook technology, we ensure that we will offer customers the world's greatest iGaming experience across all our markets and brands. Empowering our strong brands with a competitive and innovative sports product will enable us to grow and strengthen our sportsbook offering in both new and existing markets, I look forward to welcoming the talented teams from Tipico's US business to the LeoVegas Group.

The transaction is subject to customary closing conditions and is expected to close in the third quarter of 2024.

About MGM Resorts International

MGM Resorts International (NYSE: MGM) is an S&P 500 global gaming and entertainment company with national and international locations featuring best-in-class hotels and casinos, state-of-the-art meeting and conference spaces, outstanding live and theatrical entertainment experiences and a wide range of restaurant, nightlife and retail offerings. MGM Resorts creates immersive, iconic experiences through its group Las Vegas– inspired brands. The MGM Resorts portfolio includes 31 unique hotel and gaming destinations worldwide, including some of the industry's most recognized resort brands. The Company's 50/50 venture, BetMGM, LLC, offers sports BETS and online games at North America through market-leading brands including BetMGM and partypoker, and the Company's subsidiary, LV Lion Holding Limited, offers sports BETS and online gaming through leading brands in the market in several jurisdictions across the country Europe. The company is currently pursuing targeted expansion into Asia through the built-in resort option Japan. Through its philosophy of “Focused on What Matters: Embracing Humanity and Protecting the Planet,” MGM Resorts is committed to creating a more sustainable future while striving to make a bigger difference in the lives of employees, guests and in the communities where it operates. . MGM Resorts' global employees 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.

About LeoVegas Group

LeoVegas Group is a leading international gaming company with a clear vision to create the greatest gaming experience in the world. LeoVegas offers online casinoLIVE casinoand sports BETS through 9 brands in 10 jurisdictions. LeoVegas continues to grow rapidly, currently employing over 1,400 people in the Europeincluding at its headquarters in STOCKHOLM and operations center in Malta. As one of the most innovative companies in the industry, LeoVegas also invests in and develops other gaming companies through its investment arm, LeoVentures. In 2022, LeoVegas became a subsidiary of global entertainment company MGM Resorts International (NYSE: MGM). For more information, visit www.leovegasgroup.com.

Forward-Looking Statements

Statements in this release that are not historical facts are forward-looking statements within the meaning of the Securities and Exchange Reform Act of 1995, as amended, and involve risks and/or uncertainties, including those described in the public filings of Securities and Exchange Commission. Forward-looking statements can be identified by the use of forward-looking terminology such as “believes,” “expects,” “could,” “might,” “will,” “should,” “seeks,” “likely,” “intends,” “plans” “, “pro forma”, “projects”, “estimates” or “anticipates” or the negative of these words and phrases or similar words or phrases that are predictions or indicate future events or trends and do not relate solely to historical matters. The Company has based forward-looking statements on management's current expectations and assumptions and not on historical facts. Examples of such statements include, but are not limited to, the Company's expectations regarding the closing of the transaction and any benefits expected to be received from the transaction. These forward-looking statements involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated in such forward-looking statements include the effects of economic and market conditions in the markets in which the Company operates and competition with other destination travel countries. United States and world, design, timing and costs of expansion projects, including the proposed integrated resort in Japan, risks related to international development, operations, permits, licenses, financing, approvals and other contingencies described in the Company's Form 10-K, Form 10-Q and Form 8-K reports (including all changes to those reports). In making forward-looking statements, the Company undertakes no duty or obligation to update these statements publicly as a result of new information, future events or otherwise, except as required by law. If the Company updates one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those other forward-looking statements.

MGM RESORTS CONTACTS:
News media
BRIAN AHERN
Executive Director, Media Relations
[email protected]

Investment Community
SARAH ROGERS
Senior Vice President of Corporate Finance
(702) 730-3942 or [email protected]

ANDREW CHAPMAN
Director, Investor Relations
[email protected]

SOURCE MGM Resorts International