LeoVegas Shareholders Vote Overwhelming in Support of MGM Offer

LeoVegas Shareholders Vote Overwhelming in Support of MGM Offer

  • Casino and sports betting behemoth MGM Resorts will acquire online casino LeoVegas with majority support from LeoVegas shareholders.
  • The deal is scheduled to close on September 7, and its final price will be $604 million.
  • This acquisition is advantageous for both LeoVegas and MGM Resorts.

Our Recommended US Sports Betting Site in 2021

Our Rating

  • Score a $250 Welcome Sports Bonus
  • The Best Lines, Props And Live Betting
  • Accepts Wide Range Of Payment Methods Including Bitcoin
  • Bet On Traditional Sports + Politics, Esports & Virtual Sports
bovada

 

MGM Resorts - LeoVegas

MGM Resorts Receives the Support of LeoVegas Shareholders

On September 7, MGM Resorts will consummate its acquisition of LeoVegas, after 96% of the latter’s shareholders accepted the takeover offer. 

The public offer submitted by the U.S.-based hospitality and entertainment company is valued at SEK61 ($5.72) per share, and the transaction is currently estimated to be worth $604 million, which is less than its original goal.

The shareholder vote followed regulatory approval for the acquisition, which cleared the final obstacle for MGM Resorts’ acquisition of the prominent Swedish iGaming brand. 

This is a significant step forward for MGM Resorts, which is essentially venturing outside the United States for the first time in terms of online gaming.

Bill Hornbuckle, the chief executive officer and president of the company, hailed the transaction as a significant achievement for the business. Hornbuckle guaranteed that everyone at MGM Resorts was looking forward to extending a warm welcome to the LeoVegas team. 

The CEO of LeoVegas, Gustaf Hagman, was ecstatic about the development and remarked that it will mark a new beginning for the company. 

BetMGM, the company’s interactive gambling brand in the United States, will clearly benefit from LeoVegas’ expertise in developing online content and solutions. This occurs as iGaming in the United States tentatively advances toward greater recognition and regulation.

Combining the Know-How of Two Industry Giants

Due to LeoVegas’ well-established reputation in international markets, MGM Resorts will undoubtedly choose to pursue operations outside the United States as well. LeoVegas is a formidable brand in Europe, but the company is also expanding globally.

Hagman is ecstatic about the opportunity to join MGM Resorts and optimistic that this will be yet another chance to improve the company’s performance. LeoVegas has been posting strong financial results, and despite a few regulatory hiccups, the company’s momentum has not slowed.

Our Recommended US Sports Betting Site in 2021

Our Rating

  • Score a $250 Welcome Sports Bonus
  • The Best Lines, Props And Live Betting
  • Accepts Wide Range Of Payment Methods Including Bitcoin
  • Bet On Traditional Sports + Politics, Esports & Virtual Sports
bovada
Avatar

About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.