The $604m public tender bid by MGM Resorts for LeoVegas of Sweden has received acceptance by 96 per cent of the LeoVegas shareholders, it was announced yesterday.
It is now expected that the settlement will be initiated next week, said MGM Resorts’ CEO Bill Hornbuckle. “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.
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."
LeoVegas was founded in 2011 by Gustaf Hagman and Robin Ramm-Ericson and is a leading global online gaming company with licences in nine jurisdictions, mainly in the Nordic countries and elsewhere in Europe. It had GGR of €394m and €46m in EBITDA in the last year to end June.
