According to sources familiar with the matter, MGM Resorts is reportedly in the post-legal stages of acquiring Push Gaming, a Malta-based games studio, via LeoVegas in a deal worth €150m.
The deal has not been officially confirmed yet, but an announcement is expected to be made over the weekend or early next week.
The acquisition of Push Gaming is expected to boost LeoVegas' proprietary games portfolio, as well as its overall B2B division. The division is led by the operator's in-house Rhino technology platform. This acquisition follows a similar strategy that LeoVegas implemented when it acquired formerly independent studio Blue Guru Games via its LeoVentures investment arm in 2021.
Push Gaming has been exploring a sale of the business for some time now, and several gambling companies, including Scientific Games, have previously expressed an interest in acquiring the company. Push Gaming has central offices in both London and Malta and holds licenses from the Malta Gaming Authority (MGA) and the UK Gambling Commission.
Sources close to the negotiations have revealed that the deal is being driven by LeoVegas rather than US parent company MGM. MGM acquired LeoVegas in a $607m deal last year as part of its efforts to diversify its online gambling operation outside of the US and enter other operational markets, including Europe. It was also designed to add digital expertise to MGM's predominantly retail business.
The acquisition of Push Gaming will likely provide LeoVegas with a significant boost in the highly competitive iGaming market, where having a strong portfolio of proprietary games is key to success. MGM Resorts and LeoVegas are both major players in the global gaming industry, and this deal is expected to benefit both companies in the long term.