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MGM Resorts intends to acquire Swedish gaming giant LeoVegas for $607 million

Last weekend, MGM Resorts offered to acquire gaming giant LeoVegas. MGM recommended a tender offer for 100% of LeoVegas Casino for a cash value of SEK61 per share, or approximately $607 million, which will be financed by existing cash.

Bill Hornbuckle, CEO of MGM, said: “Our vision is to become the world’s leading gaming entertainment company, and this strategic opportunity with Leo Vegas will allow us to expand our reach around the world.”

“We are expanding our online gaming presence globally with our huge success with BetMGM in the U.S. and the acquisition of LeoVegas in Europe. We see a compelling opportunity to realize the full potential of an omnichannel strategy.”

LeoVegas’ board of directors issued a statement on October 23 asking shareholders to accept the proposed acquisition. The application period will be from around June 3 to August 30, depending on the content of the project.

The offer is part of efforts to expand its global presence and drive the growth of its digital gaming and sports betting ambitions.

MGM owns and operates 바카라s in Macau, the gambling capital of the United States and China. It also plans to build a $9 billion 바카라 complex in Osaka, Japan.

Last year, MGM tried to expand internationally by acquiring Entain. MGM’s offer of ?8.09 billion ($11 billion) was rejected as not sufficient.

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