MGM Resorts International has announced that it has made an offer to acquire Swedish online gambling company LeoVegas in a deal worth $607 million (€575 million).
the LeoVegas board has unanimously recommended acceptance of the offer
A statement released today by MGM Resorts explains that the deal will help the US casino operator to create a scaled global online gaming business.
Speaking of the deal, MGM Resorts’ CEO & President Bill Hornbuckle said:
“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.
MGM Makes Surprise Bid to Acquire LeoVegas
The release identifies the three key drivers for the acquisition:
- Strategic opportunities to accelerate growth and product offerings outside of the US. MGM Makes Surprise Bid to Acquire LeoVegas
- LeoVegas’ profitably as a high-growth platform since 2014.
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.
