Tag Archives: Gustaf Hagman

LeoVegas AB has agreed to sell its 25% stake in igaming B2B venture BeyondPlay to Bettor Capital for €1.9m.  Currently finalising its sale to MGM Resorts, Leo Vegas had been an early-stage investor of BeyondPlay (formerly SharedPlay) since the start-up was founded in 2021. Led by founder Karolina Pelc, BeyondPlay is a specialist developer of multiplayer components/tools for igaming operators …

LeoVegas AB has detailed stable trading ahead of its business takeover by MGM Resorts, set to be concluded by end-of-year trading.  The Stockholm-listed online gambling group published its likely last quarterly trading update, registering corporate revenues of €98m, which reflected a near 1% decline on 2021 comparative results of €99.4m. Period highlights saw LeoVegas maintain growth in its home Nordic …

LeoVegas has moved to strengthen its understanding of and presence in safer and responsible gambling as part of a collaboration with a prominent medical university.  The Stockholm-based igaming and betting operator has partnered with Karolinska Institutet’s Department of Clinical Neuroscience, Stockholm, launching a four-year research project.  LeoVegas is providing funding and raw data for the search team, which will commence …

LeoVegas AB has announced a new three-member board that will oversee the final procedures of the firm’s pending acquisition by MGM Resorts International.  The board will be led by Gary Fritz as Chairman, who serves as Head of Gaming Investments at IAC a major shareholder in MGM Resorts International. LeoVegas Founder and CEO Gustaf Hagman will also serve as a …

LeoVegas Group has formed an agreement with Manchester City to become the Premier League club’s official betting partner in both Europe and Canada.  The operator is set to appear on the sleeves of the men’s training kit sleeve for the 2022/23 season. LeoVegas branding will also be seen across in-stadia assets at both the Etihad Stadium and Academy Stadium. Furthermore …

US casino and entertainment conglomerate MGM Resorts has cleared major regulatory and governmental approvals in its pursuit of its LeoVegas acquisition. Based in Las Vegas, MGM is targeting Stockholm-headquartered LeoVegas with a bid of €575m, first announced in early May, representing a 44.1% premium on LeoVegas’ closing price of SEK 42.32. The company believes that the merger would generate strategic …

As LeoVegas’ takeover by US betting giant MGM looms, the firm has encountered tricky business during the second quarter of the year, primarily in Europe. The Swedish gambling group reported a group-wide revenue increase of 1% to €98m (2021: €96m) in its Q2 2022 trading report, alongside adjusted EBITDA of €9m (€10.6m) – a margin of 9.2% and decline of …

LeoVegas AB has praised the performance of its product portfolio and investment strategy in outriding industry-wide European headwinds, as the Stockholm-listed online gambling group becomes an acquisition target of MGM Resorts.  Publishing its Q1 trading results, LeoVegas registered corporate revenues of €98.5 million, up 2% on corresponding 2021 results of €96.7 million. Excluding Dutch market restrictions, LeoVegas revenue growth increased …

The board of LeoVegas AB has ‘unanimously recommended’ to investors an SEK 61 (€5.90) cash-per-share takeover offer submitted by US casino and entertainment group MGM Resorts. Publishing deal terms this morning, LeoVegas has advised shareholders to accept MGM’s offer, which has placed a 44% premium on the firm’s SEK 42.3 (€4.10) closing price on the Stockholm Nasdaq as of Friday, 29 …

LeoVegas AB will utilise personalised on-site messages to interact with customers in its key markets of Sweden and Denmark, making them aware of its suite of safer gambling tools.  The decision follows the successful trial of personalised on-site messaging with UK customers that has been running since the Autumn of 2021. “On-site messaging is a proven way of increasing customer …