MGM Resorts International announces offer to acquire LeoVegas

2 May 2022

(PRESS RELEASE) -- MGM Resorts International announced that it has commenced a recommended public tender offer for 100% of the shares of LeoVegas AB at a price of SEK 61.00 in cash per share, equivalent to a total tender value of approximately $607 million. The acquisition will be financed with existing cash and is expected to be accretive to MGM Resorts' earnings and cash flow per share.

"Our vision is to be the world's premier gaming entertainment company, and this strategic opportunity with LeoVegas will allow us to continue to grow our reach throughout the world," said MGM Resorts' CEO & President Bill Hornbuckle. "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. We believe that this offer creates a compelling opportunity that allows the combined teams of MGM Resorts and LeoVegas to accelerate our global digital gaming growth and fully realize the potential of our omnichannel strategy. We look forward to being able to welcome the LeoVegas team to our MGM Resorts family."

Founded in 2011 by Gustaf Hagman and Robin Ramm-Ericson, LeoVegas is a leading global online gaming company with licenses in eight jurisdictions primarily in the Nordics and rest of Europe. LeoVegas generated EUR 393 million in revenue and EUR 48 million in Adjusted EBITDAii during the last twelve months ended March 31, 2022. The business is headquartered in Stockholm with offices in Malta, United Kingdom and Milan.

MGM Resorts believes the acquisition of LeoVegas will provide a unique opportunity for the Company to create a scaled global online gaming business with the following attributes:

- Strategic Opportunities to Accelerate Growth and Product Offerings – LeoVegas' online casino and sports betting capabilities and strong customer base outside of the U.S. is expected to further expand MGM Resorts' presence around the world.
- Experienced Online Gaming Management Team and Superior Technology Capabilities – LeoVegas' management team has demonstrated the ability to develop a robust and scalable technology platform with advanced product offerings.
- Commitment to Continued Profitable Growth – LeoVegas has operated profitably as a high-growth platform since 2014. From 2017 to 2021, LeoVegas' revenues compounded annual growth rate was 16%, while maintaining strong profitability. MGM Resorts' scale, brands and expertise will allow the combined businesses to expand within existing gaming segments and provide incremental opportunities to enter new areas.

The acceptance period of the offer is expected to commence on or around June 2022 and expire on or around August 2022. An offer document regarding the offer is expected to be made public shortly before the commencement of the acceptance period. Assuming that the offer is declared unconditional no later than around end of August 2022, settlement is expected to begin around early September 2022.

The offer is subject to certain regulatory approvals, the receipt of valid tenders of more than 90% of LeoVegas' shares and customary closing conditions. It is expected to be completed during the second half of fiscal year 2022.

Related Links
LeoVegas Site Details
MGM Resorts International Gaming Vendor Information

Featured Vendors
Top One Tech Limited
Players Pal
Top One Tech Limited
Global Touch solution partner of choice, 10+ years OEM manufacturing, 100,000+ units application
Players Pal
Revolutionize the way you connect with your casino players with the Players Pal mobile app
Global Gaming Expo (G2E)
Betson Imperial Parts & Service
Global Gaming Expo (G2E)
The largest gathering of global, commercial and tribal gaming professionals in North America.
Betson Imperial Parts & Service
Your one stop shop for all your gaming and OEM needs!
Shenzhen ZhengYuanTai Technology Co., Ltd.
AmericanChecked
Shenzhen ZhengYuanTai Technology Co., Ltd.
14 years experienced gaming display manufacturer: open frame, curved, and halo monitors
AmericanChecked
Background checks for the gaming industry with key & non-key packages & fingerprinting solutions
Sunkist Graphics, Inc.
Talisman Group Creators of EZ Baccarat
Sunkist Graphics, Inc.
Specializing in the creation of best-of-breed gaming graphics - slot glass, sign faces, and more
Talisman Group Creators of EZ Baccarat
With over 800 tables in 150+ casinos, EZ Baccarat is the number one brand in baccarat.
Regulatory Management Counselors, PC
Casino Schedule Ease
Regulatory Management Counselors, PC
Over 45 years of experience serving the legal and regulatory needs of casino industry clients
Casino Schedule Ease
Full Featured & customizable for the complex scheduling needs of table games & other casino depts
Dable Advisory & Consulting Services
Rymax Marketing Services, Inc.
Dable Advisory & Consulting Services
Advisory & consulting services services for Indigenous entrepreneurs, businesses & organizations
Rymax Marketing Services, Inc.
Leader in creating award winning player & employee loyalty programs & events proven to increase ROI
Indian Gaming Association's Mid-Year Conference & Expo
Texas Slots & Gaming
Indian Gaming Association's Mid-Year Conference & Expo
The perfect combination of learning, networking & sharing ideas on today's hottest topics in gaming
Texas Slots & Gaming
Wholesale gaming reimagined. Texas Slots & Gaming is your sustainable gaming partner.
Imagine This
TribalHub
Imagine This
Imagine This #1 Source for Player Gifts. Over $50 million in stock ready to ship! Let us serve you!
TribalHub
25th Annual TribalNet Conference Sept 16-19, 2024 Westgate Las Vegas
Oklahoma Indian Gaming Association (OIGA) Conference
Slot Machines Unlimited
Oklahoma Indian Gaming Association (OIGA) Conference
The biggest little show in Indian gaming! Save the date: August 12-14, 2024 Oklahoma City
Slot Machines Unlimited
Exporter of IGT, Williams, AVP, Trimline, Aristocrat, Konami, Bally, & parts over 20 yrs experience
Casino City Press
Casino City Press
A leading publisher and distributor of casino and gaming business data and market research reports.


Your Guide to 14,960 Gaming Industry Suppliers