Tag Archives: leovegas

SpreadEx has been hit with a £1.36m penalty, in the latest in a series of regulatory enforcement actions by the UK Gambling Commission (UKGC). The regulator cited social responsibility and anti-money laundering shortcomings as the reasons behind the financial penalty, the same factors behind a number of charges against other operators. Just last week, FTSE100 giant Entain was charged £17m …

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 …

Having been charged £17m for social responsibility and anti-money laundering shortcomings dating back to 2020, Entain has outlined its efforts in this area and approach moving forward.  Split between the group’s LC International Limited web business and Ladbrokes Betting & Gaming Ltd retail operation – charged £14m and £3m respectively – the Commission’s penalty has been accompanied by additional licence …

The UK Gambling Commission (UKGC) has handed out its latest penalty for social responsibility and anti-money laundering breaches, charging online operator Smarkets. A penalty of £630,000 was dealt to the Malta-based firm, which operates the SBK sportsbook, for failing to carry out ‘adequate’ source of funds checks as well as identifying or interacting with at-risk customers.  Of significance to the …

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 …

Social responsibility and anti-money laundering shortcomings have resulted in LeoVegas facing a UK Gambling Commission (UKGC) penalty of £1.2m. The Swedish company – listed on the Stockholm stock exchange and active in the UK via its LeoVegas, Bet UK, PInk Casino, 21.co.uk and Slot Boss brands – has received an official warning and must undergo an audit.  In its assessment, …

Ekobrottsmyndigheten – Sweden’s Economic Crime Authority has launched a preliminary investigation of LeoVegas AB, with regards to insider trading of the Stockholm Nasdaq firm’s company shares. The firm stated that no employee, member in the management team or board member of LeoVegas, has been notified about any criminal suspicion and has no further information to provide at this time. The investigation comes …

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 …

As support for the Ukrainian public continues to pour in from a range of industries, including betting and gaming, Pragmatic Play has announced a new contribution. The igaming and sportsbook solutions provider revealed today that it is donating £100,000 to the Red Cross’ Red Crescent Movement response appeal, with all funds channelled towards humanitarian causes in Ukraine.  In particular, the …

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 …