MGM Resorts International has launched a public tender offer to acquire 100% of LeoVegas' shares for a total sum of $607 million.

The bid amounted to three billion rand.

MGM Resorts has made a staggering bid of $607 million, equivalent to 3 billion rand, for the online gaming company - Leovegas. This monumental offer displays MGM Resorts' commitment to expanding its reach in the digital gaming realm. By pursuing this acquisition, MGM Resorts aims to tap into the thriving online gaming market and capitalize on its immense potential for growth. The substantial sum offered by MGM Resorts reflects their confidence in Leovegas' ability to deliver exceptional gaming experiences to a wide range of players. With this strategic move, MGM Resorts aims to solidify its position as a leading player in both the traditional and online gaming industries.

LeoVegas is a reputable company based in Stockholm and holds licenses in eight jurisdictions, with most of them being in Nordic countries and the rest of Europe. However, what sets them apart is their successful rebranding of the Expekt sports betting brand. They have truly excelled in this endeavor, breathing new life into the Expekt brand and solidifying their position in the industry.

LeoVegas has achieved remarkable revenue results, with a staggering €48 million in adjusted EBITDA over the past year. This growth can be primarily attributed to the Nordic markets, which have contributed 51% of the group's NGR.

Leovegas stocks skyrocketed by over 50% within a week following the announcement of the offer. The company experienced a remarkable surge in its share prices, witnessing an unprecedented growth that left investors astounded. This sudden upturn in performance was a testament to Leovegas' solid business strategy and its ability to captivate the market. The news of the offer had a profound impact on the company's valuation, attracting a flurry of enthusiastic buyers eager to partake in the promising prospects of this dynamic enterprise.

Will the offer be accepted?

Leovegas stated that they received significant interest from various parties, but ultimately found the MGM offer to be more advantageous from the shareholders' perspective. The company expressed their satisfaction with the proposal and noted that it has been proving to be highly satisfactory.

The deal is currently under discussion in Swedish krona, with a cash offer of SEK 61 ($6.16/R30.64) per share, resulting in a premium of 44.2% compared to LeoVegas' closing price of 42.32%.

The fusion of the two companies has been eagerly awaited by shareholders, with 90% of them still awaiting approval. However, Gustaf Hagman, the CEO and co-founder of Leovegas, has publicly expressed his enthusiasm and support for the merger.

When is the business happening?

The proposal, presented in early May 2025, anticipates the acquisition process to take place from July to August 2025 approximately.

Discover more about the bidder - get to know MGM.

MGM Resorts, a renowned hospitality and entertainment company, manages destination resorts in the vibrant city of Las Vegas. With a successful partnership with BetMGM in the United States and UK-based gambling operator Entain, they offer exceptional gaming experiences to patrons.

Bet MGM, an online sports betting giant, holds the second spot in the NFL and NBA sports betting market. With an upward trajectory, the company has revised its revenue forecast for 2025, anticipating an impressive increase from $1 billion to over $1.3 billion.

LeoVegas has already demonstrated its full potential in the European market, catching the eye of MGM Resort, which aims to broaden its online gaming presence worldwide. The remarkable performance of LeoVegas has piqued the interest of MGM Resort, who is actively seeking to extend their reach in the global online gaming industry. With its impressive success in the European market, LeoVegas has managed to capture the attention of MGM Resort, a renowned entity in the gaming industry, who now intends to expand their online gaming offerings on a global scale. MGM Resort, recognizing the immense potential in the online gaming sector, has taken notice of LeoVegas' exceptional achievements in the European market, thus fueling their desire to establish a stronger global presence.

MGM Quotes

Bill Hornbuckle, CEO and President of MGM Resorts, stated:

Our vision is to become the leading global gaming entertainment company, and this strategic opportunity with LeoVegas will enable us to further expand our global presence. With this partnership, we are poised to enhance our reach in countries worldwide, solidifying our position as a top player in the gaming industry. As we continue to grow, our focus remains on delivering exceptional gaming experiences to our diverse and passionate community of players. Together with LeoVegas, we are committed to pushing the boundaries of innovation and delivering unparalleled entertainment to gamers around the globe.

We are eager to welcome the LeoVegas team into our MGM Resorts family.

We have achieved remarkable success with BetMGM in the US, and by acquiring LeoVegas in Europe, we will expand our global online gaming presence. Our progress knows no bounds as we forge ahead in the realm of digital entertainment. With our unparalleled expertise and strategic partnerships, we are poised to conquer new horizons and captivate audiences worldwide. Join us on this exhilarating journey as we redefine the gaming landscape and leave an indelible mark in the annals of the online gaming industry. Together, let's embrace the future of gaming, where possibilities are infinite and excitement knows no limits.

Bill Hornbuckle, CEO of MGM.

Leovegas quotes

The CEO and co-founder of LeoVegas, Gustaf Hagman, expressed his thoughts on LinkedIn, stating:

As a major shareholder, I fully endorse the offer announced today by MGM Resorts. I envision a vast potential in what LeoVegas and MGM can accomplish in unison. MGM Resorts has long been dedicated to crafting the ultimate offline casino experience, while we have likewise endeavored to create a stellar online experience. The merging of these two entities presents an immensely thrilling prospect.

MGM Resorts possesses grand aspirations and financial prowess that would enable LeoVegas to expand at a faster pace. Together, we can transform LeoVegas into the foremost igaming brand worldwide! Given these circumstances, I believe MGM is an ideal partner - and that is why I wholeheartedly endorse this proposition.

Gustaf Hagman, the CEO and co-founder of LeoVegas,

What is happening with Leovegas South Africa now?

LeoVegas, a well-established brand in global markets, offers a comprehensive and standout platform that encompasses sports betting, casino games, and live casino experiences. With a strong presence across international markets, LeoVegas excels in providing a complete gambling solution tailored to meet the diverse preferences of its users. Whether you're a sports enthusiast seeking exciting betting opportunities or a casino aficionado craving the thrill of traditional and immersive live gaming, LeoVegas has got you covered. Embark on a thrilling journey with LeoVegas, where endless entertainment and rewarding experiences await you.

LeoVegas has become a favorite among South African players due to its mobile-friendly platform, catering specifically to those who prefer gaming on their smartphones or tablets. Recognized with numerous awards, LeoVegas remains one of the top choices in the market.

LeoVegas wants to assure South African players that there will be no alterations to the platform, and all registered users will continue to have regular access. Rest assured that the existing user base in South Africa can enjoy the same seamless experience without any modifications.