MGM Resorts offered to acquire LeoVegas AB for $607 million

MGM Resorts offered to acquire LeoVegas AB for $607 million

On Monday, MGM Resorts International offered to acquire Swedish online gaming company LeoVegas AB for about $607 million. With this acquisition, the U.S. casino operator would expand its presence in Europe.

The recommended public offer was for 61 crowns ($6.20) in cash per share, which represents a 44.2% premium to LeoVegas' last closing price of 42.32 crowns.

MGM wants to capitalise on the sports-betting arena through its joint venture BetMGM, which forecast earlier this year more than $1.3 billion in revenue for 2022, as the coronavirus pandemic fuelled demand for online gaming.

MGM Resorts said that the company has been following LeoVegas’ progress with considerable interest and is impressed with the performance of the business and its management team, adding that it does not intend to materially alter the operations of LeoVegas following the implementation of the offer.

"We have achieved remarkable success with BetMGM in the U.S., and with the acquisition of LeoVegas in Europe we will expand our online gaming presence globally," MGM Resorts Chief Executive Officer Bill Hornbuckle said in a statement.

LeoVegas, which is licenced in eight jurisdictions primarily in the Nordics and rest of Europe, recommended its shareholders to accept MGM's offer.

The acceptance period of the offer will begin during June and expire on or around August 2022.

More about Leovegas

LeoVegas Casino was founded in 2013. Up to now, the online casino has been voted the best online casino of the year twice. Since then, LeoVegas has included many promotions and bonuses to attract new players. We can successfully conclude in this LeoVegas review that this online platform is 100% reliable and safe.

The casino is very user-friendly and offers an incredible mobile experience. The range of games comprises not only casino games and online slots but also sports betting and live casinos. 

Combined with friendly customer service, this casino deserves a spot in 2021’s top online casino.

Check this review on LeoVegas to read about this platform’s performance, often superior to that of competitors in the online casino market. In all aspects, you can see the desire to offer users maximum reliability and transparency, as well as the best possible gaming experience. With Roulette TV and the various live streaming channels, you can finally experience an online gaming experience closer to a real visit to the casino.

How do you like this post?

You have to Login to you account to like this article and write a comment.