Tipico US CEO joins LeoVegas Group acquisition nears completion
Adrian Vella shifts to new managing director for sports product and technology role ahead of shuttering of German firm’s US-facing business following transaction
Adrian Vella has been named as LeoVegas Group’s new managing director of sports product and technology ahead of the firm’s acquisition of Tipico’s US technology.
His transition came two months after it was confirmed that Tipico’s US product and technology platform had been acquired by the MGM Resorts International subsidiary, LeoVegas Group.
As per the terms of the deal, Tipico will wind down its operations in the country, while LeoVegas Group would also acquire key figures within Tipico’s US management, technology and trading teams across the US, Colombia and Europe.
Vella had served as Tipico US CEO since January 2019, having initially joined the Malta-headquartered operator as head of data, analytics and special projects in June 2014.
Vella led the operator into four US states before the deal was struck, with Tipico US live in Colorado, Iowa, Ohio and New Jersey. It also offered online casino in the Garden State alongside its sports betting product.
However, the privately owned business failed to achieve significant breakthrough, with its mark share languishing below 1%.
Taking to LinkedIn, Vella revealed that he would be one of the team members making the move to LeoVegas in his new role as a managing director.
He wrote: “Goodbyes are hard as I was privileged to have spent the last 10 years at Tipico, working alongside an incredible group of people. We have achieved so much together, and I couldn’t have asked for a better team.
“I am immensely grateful for my team, thank you for believing in me and supporting me throughout this journey.
“Lastly, Joachim Baca [former Tipico Group CEO], for being an incredible mentor, for your guidance and support over the years.”
In announcing his move, Vella also reflected on Tipico’s US achievements during his time leading the operator.
He added: “Over the past five years, we have invested heavily in developing our proprietary sports betting and gaming platform in the world’s most competitive market.
“We have demonstrated our superior greenfield sports betting technology and operational capabilities, enabling us to find the right partner for growth.
“We are incredibly excited about this next chapter with LeoVegas/MGM.”
As revealed in June’s press release, Moelis & Company acted as Tipico Group’s exclusive financial adviser over the course of the transaction, which is expected to be completed in Q3.
MGM Resorts International said the acquisition of Tipico’s US sportsbook technology means that LeoVegas will be able to operate a “purpose-built proprietary sportsbook” across all markets and brands, apart from those that are exclusive to BetMGM’s joint venture with Entain.
The acquisition of Tipico US’ tech comes as MGM Resorts International and LeoVegas Group snapped up Push Gaming last year and sealed a live casino partnership with Playtech.
The efforts form part of a planned international push with the BetMGM brand, outside of North America.
BetMGM is already live in the UK and the Netherlands, with plans to launch in Latam and Eastern Europe in the pipeline. The platform is powered by a combination of LeoVegas and Kambi tech.
Arnold Ash is EGR’s Executive Recruitment Partner. They support ambitious organisations to identify and attract industry leading executive talent. Find out more here.