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Statement by the Board of Directors of LeoVegas in relation to the public offer from MGM
The Board of Directors of LeoVegas unanimously recommends the shareholders of LeoVegas to accept the public offer from MGM of SEK 61 in cash per share.
This statement is made by the Board of Directors[1] of LeoVegas AB (publ) (the “Company” or “LeoVegas”) pursuant to Rule II.19 of the Nasdaq Stockholm Takeover Rules (the “Takeover Rules”).
Background
MGM Casino Next Lion, LLC, a wholly owned indirect subsidiary of MGM Resorts International (“MGM”), has today announced a public offer to the shareholders of LeoVegas to transfer all of their shares in LeoVegas to MGM for a consideration of SEK 61 in cash per LeoVegas share (the “Offer”). The total value of the Offer corresponds to approximately SEK 5,957 million[2]. The price of SEK 61 per share in the Offer will not be increased.
The Offer represents a premium of:
· approximately 44.1 per cent compared to the closing price of SEK 42.32 of LeoVegas shares on Nasdaq Stockholm on 29 April 2022, which was the last trading day prior to the announcement of the Offer;
· approximately 57.6 per cent compared to the volume-weighted average trading price of SEK 38.70 of LeoVegas shares on Nasdaq Stockholm during the last 30 trading days prior to the announcement of the Offer; and
· approximately 76.5 per cent compared to the volume-weighted average trading price of SEK 34.56 of LeoVegas shares on Nasdaq Stockholm during the last 180 trading days prior to the announcement of the Offer.
The acceptance period for the Offer is expected to commence on or around 3 June 2022 and expire on or around 30 August 2022.
Completion of the Offer is conditional upon, inter alia, that the Offer is accepted to such an extent that MGM becomes the owner of shares representing more than 90 per cent of the outstanding shares in LeoVegas (on a fully diluted basis), as well as all regulatory, governmental or similar clearances, approvals and decisions necessary to complete the Offer, including approvals and clearances from competition authorities, being obtained, in each case on terms which, in MGM’s opinion, are acceptable. MGM has reserved the right to waive the conditions for completion of the Offer. The Offer is not conditional upon financing. MGM has stated that it will not increase the price of SEK 61 in the Offer. By this statement, MGM cannot, in accordance with the Takeover Rules, increase the price in the Offer.
The Board of Directors of LeoVegas has given consent to MGM to offer a management incentive plan for certain key employees of LeoVegas and notes that MGM has obtained a statement from the Swedish Securities Council (Sw. Aktiemarknadsnämnden) confirming that the proposed incentive plan is compatible with the Takeover Rules (Ruling 2022:16).
The Board of Directors of LeoVegas has, at the written request of MGM, permitted MGM to carry out a due diligence review of LeoVegas in connection with the preparation of the Offer. With the exception of information that was subsequently included in LeoVegas’ Q1 report for 2022, MGM has not been provided with any inside information regarding LeoVegas in connection with the due diligence review.
MGM has obtained irrevocable undertakings to accept the Offer from the Company’s largest shareholder and Chief Executive Officer, Gustaf Hagman, and certain other shareholders[3]. Gustaf Hagman has undertaken to tender 8,050,000 shares (8.2 per cent of the outstanding shares in LeoVegas), and other shareholders have undertaken to tender a total of 6,909,281 shares in LeoVegas (7.1 per cent). Accordingly, irrevocable undertakings to accept the Offer from shareholders representing in total 14,959,281 shares (15.3 per cent) have been obtained. The irrevocable undertakings apply irrespective of whether a higher competing offer is made. The irrevocable undertakings will terminate if the Offer is not declared unconditional on or before 31 October 2022. In addition, Torsten Söderberg, who is also a Board member of LeoVegas, has stated that he is very supportive of the Offer. Torsten Söderberg and family owns 4,533,861 shares in LeoVegas (4.6 percent).
SEB Corporate Finance (“SEB”) is acting as financial adviser and Cederquist is acting as legal adviser to LeoVegas in connection with the Offer.
Process conducted by the Board of Directors
In parallel with other interested third parties contemplating public tender offers, MGM contacted LeoVegas in December 2021. The Board of Directors engaged SEB to lead the process of evaluating other parties’ interest for the Company. In February 2022, MGM submitted a non-binding offer letter to the Board of Directors of LeoVegas indicating an interest to pursue with a public offer subject to, inter alia, a satisfactory due diligence review and the Board of Directors of LeoVegas recommending the shareholders to accept the offer from MGM. The Board of Directors gave MGM permission to conduct a due diligence review. As instructed by the Board of Directors, SEB entertained parallel processes with other interested parties in the interest of creating maximum value for the shareholders in LeoVegas. Following further negotiations with the Board of Directors and SEB, MGM increased its non-binding offer, to a price level other interested parties could not match, in order to receive a recommendation from the Board of Directors.
The Board of Directors’ recommendation
In its evaluation of the Offer, the Board of Directors has taken a number of factors into account which the Board of Directors deems relevant. These factors include, but are not limited to, the Company’s present strategic and financial position and the Company’s expected potential future development and thereto related opportunities and risks.
The Board of Directors notes that the Offer represents a premium of approximately 44.1 per cent compared to the closing price of SEK 42.32 of the Company’s share on Nasdaq Stockholm on 29 April 2022, which was the last trading day before the announcement of the Offer, and a premium of approximately 57.6 per cent and 76.5 per cent respectively, compared to the volume-weighted average share price for the Company’s share on Nasdaq Stockholm during the last 30 and 180 trading days, respectively, prior to the announcement.
As noted above, LeoVegas has received several indications of interest or non-binding offers concerning a potential tender offer. MGM’s offer is, in the assessment of the LeoVegas Board of Directors, the superior offer from the perspective of the shareholders. The LeoVegas Board of Directors has investigated and considered market and industry trends, and certain strategic alternatives available to LeoVegas. Such alternatives included, but were not limited to, remaining an independent listed company with a possible listing in the USA. The LeoVegas Board of Directors has also considered the risks and uncertainties associated with such alternatives.
LeoVegas operates in an industry which is characterised by, inter alia, high innovation pace, new regulation and consolidation. In this context, the Board of Directors believes that the industrial logic and strategic fit between LeoVegas and MGM is attractive and should serve both the company and its employees well in the future.
The Board of Directors further notes that LeoVegas’ largest shareholder and Chief Executive Officer Gustaf Hagman and certain other shareholders, representing in aggregate 15.3 per cent of the outstanding shares and votes in the Company, have entered into undertakings to accept the Offer, subject to certain conditions, irrespective of whether a higher competing offer is made. In addition, Torsten Söderberg, who is also a Board member of LeoVegas and together with family owns 4.6 per cent of the outstanding shares, has stated that he is very supportive of the Offer.
As part of the Board of Directors’ evaluation of the Offer, the Board of Directors has engaged BDO to issue a so-called fairness opinion regarding the Offer, see Appendix 1. According to the fairness opinion, the Offer is fair to LeoVegas’ shareholders from a financial point of view (subject to the assumptions and considerations set out in the fairness opinion).
Under the Takeover Rules, the Board of Directors shall, based on the statements made by MGM in the Offer press release issued earlier today, present its opinion regarding the impact that the implementation of the Offer will have on LeoVegas, particularly in terms of employment, and its opinion regarding MGM’s strategic plans for LeoVegas and the effects it is anticipated that such plans will have on employment and on the places in which LeoVegas conducts its business. In this respect, the Board of Directors notes that MGM has stated that “MGM values the skills and talents of LeoVegas’ management and employees and intends to continue to safeguard the excellent relationship that LeoVegas has with its employees. Given MGM’s current knowledge of LeoVegas and in light of current market conditions, MGM does not intend to materially alter the operations of LeoVegas following the implementation of the Offer, subject, of course, to MGM’s continued regulatory review. There are currently no decisions on any material changes to LeoVegas’ or MGM’s employees and management or to the existing organization and operations, including the terms of employment and locations of the business”. The Board of Directors assumes that this description is correct and has no reason to take a different view in this respect.
Based on the above, the Board of Directors unanimously recommends the shareholders in LeoVegas to accept the Offer.
This statement shall in all respects be governed by and construed in accordance with Swedish law. Disputes arising from this statement shall be settled exclusively by Swedish courts.
The information in the press release is information that LeoVegas is obliged to make public pursuant to the EU Market Abuse Regulation and the Takeover Rules. The information was submitted for publication, through the agency of the contact person set out above, at 08.00 CEST on 2 May 2022.
[1] The Board member Torsten Söderberg and the Company’s largest shareholder and Chief Executive Officer Gustaf Hagman have not participated in the Board’s evaluation of or discussions regarding the Offer due to conflict of interest.
[2] Based on 97,652,970 outstanding shares in LeoVegas, which excludes 4,000,000 treasury shares held by LeoVegas. In the event that LeoVegas should pay any dividend or make any other value transfer prior to the settlement of the Offer, the price per share in the Offer will be reduced correspondingly.
[3] LOYS AG: 3,259,281 shares (3.3 per cent). Robin Ramm-Ericson: 2,250,000 shares (2.3 per cent). Pontus Hagnö: 1,000,000 shares (1.0 per cent). Gilston Invest AB: 400,000 shares (0.4 per cent).
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Aglaja Geta
“Stories”, a new feature design to elevate sportsbook engagement and promotional visibility from BETBY
BETBY, the leading sportsbook provider, has announced the launch of Stories, a new feature designed to transform how operators present promotions and key events to their players.
Inspired by the widely adopted Stories format seen across social media platforms, the feature introduces a familiar, intuitive way for bettors to discover and engage with content directly within the sportsbook interface.
As competition for user attention continues to intensify, operators face the ongoing challenge of delivering promotions and updates in a way that cuts through the noise without overwhelming the user experience.
Stories addresses this by offering a dynamic, swipeable format that brings key content — such as bonuses, tournaments, major sporting events, and boosted odds — into a more engaging and accessible space.
Fully integrated into BETBY’s sportsbook environment, Stories enables bettors to seamlessly browse through short, interactive content cards, mirroring the mechanics they already use daily on social platforms.
This familiarity plays a key role in driving immediate interaction, lowering the barrier to engagement, and creating additional touchpoints between operators and their users.
By introducing a format that naturally encourages exploration, Stories helps increase visibility across promotional campaigns while supporting higher engagement rates.
Each new Story acts as a trigger for curiosity, prompting users to click through and discover new offers or events, ultimately contributing to improved promo turnover.
The feature feels particularly intuitive to younger demographics, who are already accustomed to this style of interaction.
By aligning sportsbook UX with established digital behaviors, BETBY allows operators to connect with these audiences in a more organic and impactful way.
“Stories is about meeting users where they already are, in terms of how they consume content,” said Aglaja Geta, Head of UX & Analytics at BETBY.
“We wanted to introduce a format that feels instantly familiar, while giving operators a powerful new way to highlight their most important promotions and events.
It creates a smoother, more engaging experience that encourages interaction without adding complexity to the platform.”
From an operational perspective, Stories offers a streamlined way to enhance the front-end experience without requiring structural changes to the sportsbook.
The feature integrates seamlessly, allowing operators to enrich their content strategy while maintaining a clean and intuitive interface.
About BETBY
BETBY is a leading B2B provider of top-tier sports betting services, renowned for its groundbreaking technology and dedication to excellence.
BETBY’s team of industry veterans tap into their knowledge and expertise to deliver a premium, adaptable, and scalable sportsbook platform tailored to meet the varied demands of operators across the globe.
From dynamic in-play betting options to robust risk management tools and ground-breaking AI tools, BETBY is committed to propelling the success of its partners in the rapidly evolving landscape of online sports betting.
For more information visit betby.com
The post “Stories”, a new feature design to elevate sportsbook engagement and promotional visibility from BETBY appeared first on Americas iGaming & Sports Betting News.
The iGaming affiliate industry has a problem, and it begins with the “Top 10” list. For years, the business has relied on a foundation of simple review pages. Walls of text that often prioritize commission rates over user experience. But as players are becoming tired of biased endorsements, the traditional review site is entering its twilight years.
“Look, the industry is at a crossroads,” says Borja Imbergamo, CEO of BC Brothers. “The old playbook, where you rank operators based on who writes the biggest check and then dress it up as expert advice, is just broken. It’s a short-term hustle in a world that’s demanding long-term transparency.”
Imbergamo isn’t just criticizing the status quo. Instead, he is pivoting away from it. He’s pushing BC Brothers toward this ‘Affiliate-as-a-Product’ model, which honestly isn’t just some clever rebranding. It’s a total shift in architecture. Rethinking the whole way an affiliate actually connects a player to an operator from the ground up.
Breaking Free from the Template
For most affiliates, WordPress is the default setting. It’s easy, it’s fast, and it’s predictable. However, late last year, BC Brothers began a quiet migration away from standard content management systems toward self-built platforms. While still in the pilot phase in several territories, the move represents a declaration of independence from the limitations of templated solutions.
“WordPress is fine, but it’s a bottleneck for innovation,” Imbergamo explains. “Moving to our own infrastructure allows us to be a lot more flexible. We can develop features that a standard plugin simply can’t handle. These are still pilots, but we have very high hopes for these platforms to become our future. It definitely requires more SEO checks, resources and dedication, but surely will pay off in long term”
This technical shift allows BC Brothers to move beyond the bridge model, where a site is just a transition point for a player, and toward a destination model.
Building an Ecosystem
The pivot isn’t just about how the sites are built, but what they offer. While conversion remains a goal, BC Brothers is investing heavily in products that prioritize utility over the immediate click. These projects are less about a direct sales funnel and more about becoming an essential part of the sports content ecosystem.
One example is BetBrothers.football, a site designed to deliver all the real-time football data and stats a fan could want. Alongside it sits BBSportNews, an editorial project covering the “beautiful game” from every angle – from breaking transfer news and defining stories to deep-dive tactical analysis.
“We are building an ecosystem, not a funnel,” says Imbergamo. “If we provide a player with real-time match stats they can’t find elsewhere, or analysis that actually informs their perspective, we’ve earned their time. By the time they do decide to play, they don’t have to head back to Google to find some random review site. They’re already inside our brand’s ecosystem. It’s about giving them that full 360-degree value so they never feel the need to look elsewhere.”
By focusing on these utility tools, BC Brothers is actually playing a much smarter game with lead quality. Think about it – a person who spends twenty minutes studying data on a platform you built is a way more valuable player for an operator than someone who just clicks a “Play Now” button because they saw a shiny banner. One is an engaged user making an informed choice. The other is just a random click that probably won’t stick around.
Playing by the Rules
This approach is particularly vital in regulated markets, where BC Brothers exclusively operates. The company maintains a strict policy of working only in regulated jurisdictions and exclusively with licensed operators. Getting their Greek affiliate license this past March was simply the next logical step in that process. For Borja, ignoring grey markets isn’t some moral crusade. It’s just the right way to make sure sports betting stays entertaining and safe for everyone.
“We really believe that working only with licensed operators is the right way to keep sports betting fun and sustainable,” Borja says. “We’re committed to staying compliant and actually helping the industry grow in every market we’re in. Sometimes that means taking the harder path. But for us, it’s a long-term investment in a safe environment that protects the players and makes the whole industry healthier.”
The Future of the “Brothers”
The transition from a content house to a product studio is a high-stakes bet. It requires more capital and a willingness to walk away from the easy wins of the grey market. At the end of the day, it requires more developers too. But as the iGaming affiliate landscape becomes more crowded with much more pressure from all sides, the “middle man” who offers nothing but a link is losing their place.
“The era of the disposable affiliate site is over,” Imbergamo concludes. “The next big leaders in this space will be the ones who treat it like a serious tech company, more like the SaaS world. Players want tools, interaction, personalization, and they want value for their time. We’re basically building the infrastructure for a future where the product does the talking, and you don’t have to ask for trust because it’s already built into the code.”
The post Why BC Brothers is Betting on “Affiliate-as-a-Product” appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
The study analyzes key markets across both regions, including South Africa, Nigeria, Ghana, Brazil, Mexico, and Argentina. Using real-time data on game placement and player demand, the research provides a clear view of what content operators prioritize and what resonates most with players. The report also features insights from operators such as BetPawa and MSport, adding industry perspective to the data-driven analysis.
One key finding is that slots continue to dominate across both regions. In Africa, they account for 71% of the Top 30 games featured in casino lobbies, while in Latin America, they make up 67% of the Top 30 games analyzed — outperforming both crash and live formats.
At the same time, the data shows that what operators place in lobbies does not always match what players are actually looking for. Some of the most searched-for games are not prominently featured or are missing from lobbies altogether.
For 1spin4win, this report is part of their broader expansion strategy across Africa and Latin America. The provider began actively extending its presence in these markets in 2025, strengthening partnerships with local aggregators and refining its product strategy to better align with regional player preferences. These include mobile optimization and fast loading and smooth performance even on weak internet connections. In Africa, these efforts led to a 9.2x increase in the number of bets.
Olga Hlukhovskaya, Business Development Director at 1spin4win, “At 1spin4win, we place strong emphasis on working with data. It’s at the core of how we approach product development. We focus on understanding player preferences and making informed decisions that help us deliver experiences that truly resonate with our audience.”
Ilya Batcherikov, Blask CPO, commented, “By aggregating non-branded search data at scale, we help teams understand what players are actually looking for in each market — often before those trends become visible inside the product. This allows operators to move from reactive content strategies to proactive ones, aligning supply with real-time demand and capturing value that would otherwise be missed.”
Full insights from the research are available in the report “What’s hot in LATAM and Africa” on the Blask website.
About 1spin4win
1spin4win is an established game provider founded in May 2021 by ambitious developers with over 15 years of experience in the gambling industry. Since its inception, the company has expanded its portfolio to include over 200 classic online slots, all characterized by quality mathematics, transparent mechanics, and well-balanced gameplay — key factors that drive strong player retention. The studio aims to release an average of four new games each month in 2026 and offers effective promotional tools for casino operators to help them enhance player loyalty.
The post 1spin4win & Blask report 7 out of 10 top games in Africa are slots appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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