MGM Resorts has announced its plan to acquire LeoVegas for €575 million, an offer that has been unanimously recommended by the Swedish company's board of directors.
On this strategic step of growth, the CEO and president of MGM Resorts, Bill Hornbuckle, highlighted that it is an important opportunity to continue increasing its reach throughout the world.
“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,” he added.
Meanwhile, LeoVegas CEO and co-founder Gustav Hagman says the merger brings an exciting prospect of great growth for both. In this regard, and as the group's largest shareholder, he has confirmed his full support in accepting this offer.
The LeoVegas Board of Directors has given consent to MGM to offer a management incentive plan for certain key employees of LeoVegas, which is consistent with the Acquisition Rules under the Swedish Securities Council.
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