Article Contributors

LeoVegas Sold to MGM Resorts

LeoVegas enters a new era with the approved sale to MGM Resorts

The LeoVegas shareholders have accepted the public tender offer at SEK61 ($5.72) per share to a total tender value of circa $604m. As a result, MGM Resorts’ acquisition of LeoVegas has now been accepted by 96% of LeoVegas investors. The transaction is due to be completed on the 7th of September.

Last month, MGM Resorts received the regulatory green light to acquire this online casino giant.

“The completion of this transaction represents a major milestone for MGM Resorts as we continue to pursue our strategy of growing our online gaming footprint worldwide,” said MGM Resorts CEO & president Bill Hornbuckle.

“We look forward to welcoming the LeoVegas team and are excited to begin working with them to grow our global digital gaming business and maximise the full potential of our omnichannel strategy,” he concluded.

LeoVegas has generated a whopping €394m in revenue and €46m in adjusted EBITDA during the twelve months leading up to June 30th, 2022. LeoVegas boasts headquarters in Stockholm, Sweden, with additional offices in Milan, Malta and the United Kingdom.

With this acquisition, MGM Resorts will be able to reach a more global audience for the online gambling business. It also added that with the services provided by LeoVegas, including online casino and sports betting, the company has succeeded in showcasing its ability to increase more advanced product offerings.

Gustaf Hagman, LeoVegas CEO and co-founder, remarked: “Joining forces with MGM Resorts is a major win for LeoVegas. We’re excited to begin working with our new teammates to build upon the work we’ve done over the last 10 years.”

“This milestone will mark the beginning of a new chapter in the LeoVegas saga. As we now join forces with MGM, we are looking forward to the next 10 years and establishing LeoVegas as the world’s largest iGaming brand,” he stated.

LeoVegas will now begin the strenuous process of delisting itself from the Stockholm Stock Exchange. LeoVegas, under the tenure of MGM Resorts, will now work at expanding its already existing gaming segments while entering new verticals and markets.

Discover the Latest News from NewCasinos

Businessman analyses the graph of trend market growth in 2025 increase in the year 2025.
UKGC CEO Explains URL Takedowns Have Increased Tenfold in Financial Year 2024/25 The UK gambling regulator has also had to send over 250 cease and desist warnings to operato...
01/27/2025
Person using a calculator and reviewing financial documents with charts and graphs on a desk, symbolising financial analysis or budgeting
KPMG Under Scrutiny From Accounting Watchdog FRC Entain, owner of giant brands such as Coral and Ladbrokes, has faced a lot of scrutiny and w...
01/25/2025
Two smartphones with gold frames surrounded by floating gold coins featuring dollar signs, set against a bright blue background, symbolizing digital transactions or mobile payments.
Why Players Love Pay by Mobile Casinos Pay by mobile might seem like adding an extra step, rather than just paying with a card or o...
01/23/2025

Leave a Comment