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MGM Resorts Makes Offer to Acquire Swedish Gambling Giant LeoVegas for $607 Million

Over the weekend, MGM Resorts made an offer to buy gaming giant LeoVegas. MGM has launched a recommended public tender offer for 100% of the shares of LeoVegas Casino at a price of SEK 61 per share, or about $607 million, which will be funded by available cash.

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

“We have had outstanding success with BetMGM in the United States, and with the acquisition of LeoVegas in Europe, we will expand our presence in online gaming around the world. We believe this offering creates a remarkable opportunity that allows the combined teams of MGM Resorts and LeoVegas to accelerate our global digital gaming growth and realize the full potential of our omnichannel strategy.”

On Monday, LeoVegas’ board of directors issued a statement urging shareholders to accept the offer. The offer acceptance period begins on or about June 3 and ends on or about August 30, according to business.

The proposal is part of MGM’s efforts to expand its global footprint and further develop its digital gaming and sports betting ambitions.

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

Last year, MGM tried to go international by acquiring Entain. MGM’s offer of ?8.09 billion, or roughly $11 billion, was rejected by the firm, saying it was not enough.

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