Tipico entered into an agreement to sell its U.S. sportsbook and casino platform to LeoVegas group, a subsidiary of MGM Resorts International (NYSE: MGM).
BRANDL TALOS advised Tipico Group Ltd., one of the leading sports betting providers, on the sale of its U.S. sportsbook and online casino platform to LeoVegas Group, a subsidiary of MGM Resorts International (NYSE: MGM).
This multi-jurisdictional deal includes the acquisition of key management, technology and trading teams across the U.S., Colombia and Europe. The transaction is subject to regulatory and customary approvals and is expected to complete in Q3/2024.
The BT deal team consisted of Thomas Talos, Stephan Strass and Daniel Habich. Cooley LLP (Justin Stock, Chris Coulter, Joeseph K Claffey) advised Tipico on UK law aspects of the transaction. MGM Resorts International was advised by Wilson Sonsini Goodrich & Rosati (Jackie Hamilton, Chris Paniewski). Moelis & Company acted as exclusive financial advisor to Tipico Group Ltd. on this transaction.