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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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Here are this weeks latest slots releases compiled by European Gaming
Spinomenal has expanded its successful Mythology series with the launch of Mega Zeus Hold & Hit 3×3. Set among the golden columns of Mount Olympus, Mega Zeus transports players to the realm of the mighty god of thunder.
Galaxsys proudly announces the launch of its latest slot game, Guardians of Glory, an action-packed game that combines medieval warfare, innovative slot mechanics, and massive win potential for players worldwide. Blending classic slot mechanics with high-octane action, Guardians of Glory is a 5-reel, 3-row cascading line slot designed to keep players on the edge of their seats.
Evoplay has launched Imperial Relics: Three Pots, a vibrant new slot inspired by the grandeur, treasures, and mysticism of Imperial China. Players are transported to a golden city overseen by a wise emperor, where sacred relics and intricate symbols adorn the reels.
Relax Gaming has enhanced a fan-favourite with the launch of Snake Arena 2: Kinesis Unleashed. The futuristic, feature-packed 6×4 ways slot pits Slayers against Snake in an entertaining game experience that offers huge win potential with a maximum prize of 50,000x bet.
Get ready for the slot event of the year, from Booming Games, in Black Friday Cart Craze, where every spin feels like a mega sale! Load up your carts to trigger the Coin Craze collect feature or the Super Sale Spins, where everything must go. Eliminate Minor symbols and upgrade Major symbols to increase your shopping spree haul!
In Nolimit City’s latest release, Bizarre, peek into the window of Dr. Bizarre’s wild experiments. This slot falls under the eccentric category of Nolimit City slots such as Munchies, Outsourced and Ugliest Catch. The farm has been… busy. Bizarre plays out on a 4-4-4-4-4 layout across 5 reels, with a number of variations of xSplit®.
Push Gaming has launched its latest seafaring adventure, Sea of Spirits, a highly anticipated slot developed in collaboration with CasinoGrounds, one of the industry’s most influential community-driven streaming platforms. Set in a haunting underwater realm where ghostly captains guard the treasures of the deep, Sea of Spirits immerses players in a world of mystery, risk, and reward.
Play’n GO’s Stadium of Riches captures the raw energy of the world’s favourite sport, placing players at the heart of the action in this high-stakes football showdown. Stadium of Riches doesn’t just replicate the spirit of football – it elevates it.
Blueprint Gaming
is kicking off the festive season with the launch of Saint Nicked 3 Present Tense, the first of three Christmas-themed releases that see some of its most iconic series reimagined with charming festive visuals, enriched graphics and immersive seasonal experiences designed to delight operator player bases worldwide.
BGaming invites players to wrap up warm and explore an icy kingdom in Divine Queen: Heart of Ice. Watch the wins snowball in this Olympus-genre pay-anywhere game. Divine Queen: Heart of Ice pulls inspiration from the iconic Bonanza gameplay mechanics, repackaging them in a winter retro style.
This holiday season, Santa’s traded in his sleigh for a private jet and touched down on the Vegas Strip! Santa in Vegas delivers festive fun and flashy riches in a vibrant 5×4 slot packed with luxurious symbols, glittering lights and that famous Booming Games excitement.
Get ready to gather the family around the table and celebrate the harvest season in style in Extra Win X Thanksgiving – the new holiday-themed twist on Swintt’s classic retro slot formula where landing full table wins can lead to massively multiplied payouts.
TaDa Gaming has released Clover Ladybug, a vibrant slot where expanding Wilds, playful multipliers and the lucky ladybug herself lead the way to exciting 1500x wins. Set on a 5×3 grid with 20 paylines, Clover Ladybug transforms the simple joy of nature into a lively slot experience.
The post Week 47/2025 slot games releases appeared first on European Gaming Industry News.
European Gaming Media
HIPTHER’s European Gaming Media Joins Forces with Frank Gaming in a Strategic Media Partnership
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HIPTHER’s flagship media outlet, European Gaming Media, is delighted to announce a new Media Partnership with Frank Gaming – the strategic nexus connecting game providers, casino operators, and industry leaders worldwide.
This collaboration marks a shared mission to accelerate partnerships, amplify exposure, and empower sustainable growth within the global iGaming ecosystem. Through this agreement, Frank Gaming will feature HIPTHER’s renowned international events across its platform, providing its expansive network with direct access to some of the industry’s most influential conferences.
In exchange, European Gaming Media will provide ongoing editorial and social media coverage for Frank Gaming’s key announcements, while Frank Gaming representatives will receive complimentary passes to attend HIPTHER’s premium events, including the Prague Gaming & TECH Summit, European Gaming Congress (HIPTHER Warsaw Summit), and the MARE BALTICUM Gaming & TECH Summit.
A Partnership Built on Shared Vision and Reach
Frank Gaming serves as a powerful connector within the iGaming ecosystem, driving measurable results through strategic networking, exclusive events, and actionable industry intelligence. Their ecosystem features over 500 verified suppliers, 250 active operators, 1,200 successful connections, and 50+ exclusive events – all designed to foster collaboration and growth.
The platform’s comprehensive toolkit includes a Supplier Directory, Strategic Networking, Industry Intelligence, Exclusive Events, Custom Marketing, and Strategic Advisory services, making it a go-to destination for gaming businesses seeking to scale with purpose.
As a leading media voice reaching over 300,000 monthly readers, European Gaming Media delivers trusted news, interviews, and insights across gaming, betting, esports, and tech innovation. The partnership strengthens both brands’ commitment to building bridges and driving excellence across the gaming value chain.
Statements from the Partners
Zoltán Tűndik, Co-founder of HIPTHER, commented: Our collaboration with Frank Gaming is a natural fit, rooted in a shared commitment to strengthening the core of the iGaming industry. We are focused on delivering crucial insights, and Frank Gaming excels at creating actionable connections. With a joint effort we can offer immense value, ensuring that the critical discussions taking place at our HIPTHER events are amplified across their robust network of suppliers and operators.
Julian Arabadjiyski, Frank Gaming strategic advisor added: Partnering with HIPTHER is a strategic step forward in our mission to connect innovation with opportunity across the global iGaming landscape. HIPTHER brings industry-shaping insights and global reach through their events and media, while Frank Gaming empowers suppliers and operators to turn those insights into growth. Together, we’re bridging knowledge and execution ensuring the right voices are heard and the right connections are made.
About Frank Gaming
Frank Gaming is the strategic nexus connecting game providers, casino operators, and industry leaders across the global iGaming ecosystem. With over 500 verified suppliers, 250 operators, and 1,200 successful connections, the platform accelerates partnerships and drives growth through strategic networking, exclusive events, and targeted intelligence.
About European Gaming Media
Part of HIPTHER, European Gaming Media (EuropeanGaming.eu) is one of the most trusted publications in the iGaming and gambling sector, reaching more than 300,000 readers monthly. The outlet delivers daily news, in-depth interviews, regulatory updates, and event coverage, shaping the future of gaming and betting across Europe.
About HIPTHER
HIPTHER is a global brand dedicated to connecting people and businesses through innovative media, PR, and events. With leading conferences and media outlets spanning Gaming, Tech, and Fintech, HIPTHER empowers industries through connection, collaboration, and creativity.
The post HIPTHER’s European Gaming Media Joins Forces with Frank Gaming in a Strategic Media Partnership appeared first on European Gaming Industry News.
N1 Partners is heading to Bangkok to talk about growth, partnerships, and high-converting products. The team will be present not only at the main conference — Affiliate World Asia 2025 on December 3–4 — but also across the key side events, including Affiliate Drinks Meetup Bangkok 2025 and partner activities at Fridman Palace.
“Affiliate World Bangkok is one of the most valuable events of the year. We’re excited to meet partners, showcase what we’ve built, and exchange insights that drive the industry forward. N1 Partners enters 2026 stronger than ever — with new brands, new achievements, and big plans ahead.”
— Alexa Bond, Head of Affiliates at N1 Partners
Meet N1 Partners at Affiliate Drinks Meetup Bangkok 2025
The Affiliate Drinks Meetup Bangkok 2025 by Conversion Club is an evening of targeted networking during Affiliate World Asia week — a “drinks & deals” format built for quick, meaningful introductions and real partnerships between affiliates, advertisers, agencies, and tech partners in a relaxed setting off the expo floor.
N1 Partners joins Affiliate Drinks Meetup as a supporting partner and active participant, bringing our affiliate managers to meet decision-makers, discuss new traffic opportunities, and strengthen relationships with existing and future partners.
- Location: Anantara Siam Bangkok Hotel, Bangkok
- Date & time: 3 December 2025, 20:00–23:00
Affiliate Space Awards 2025
The Affiliate Space Awards 2025 by Conversion Club is an annual gala that celebrates standout brands, companies, and personalities in affiliate marketing across key verticals — including iGaming, finance, dating and more — with live voting and winners announced at a gala dinner in Bangkok.
N1 Partners is shortlisted in three major categories at the Affiliate Space Awards 2025:
- The Best Gambling / Betting Affiliate Program
- The Best Brand of the Year
- The Best Online Casino Operator of the Year.
Together, these nominations recognize N1 Partners’ position as a top-performing affiliate program and operator with guaranteed and fast payouts, flexible deal models, a VIP approach and strong support for partners, consistently high-converting Tier-1 brands, a strong and consistent brand image (boosted in 2025 by the buzz around the N1 Puzzle Promo), and a data-driven approach to player value, retention, LTV, and long-term partner results.
- Location: Anantara Siam Bangkok Hotel, Bangkok
- Date & time: 4 December 2025, 20:00–23:00
Fridman Palace – where N1 Partners meets industry leaders
You can also find N1 Partners at Fridman Palace in Bangkok — a premium business and lifestyle space where market leaders meet, share real cases, and talk openly beyond the conference schedule.
FridmanTower offers a curated environment with private meeting areas and networking zones tailored for meaningful conversations and high-level deal-making.
N1 Partners is the sponsor of a smoking lounge for relaxation and networking, giving partners a comfortable, premium space to meet our affiliate managers, talk strategy, and plan next steps throughout Affiliate World week.
- Location: FridmanTower, Bangkok
- Dates: 1–5 December 2025
Book a Meeting with Our Affiliate Managers
Maximize your time in Bangkok — book a meeting with N1 Partners in advance, whether at Affiliate World Asia, Affiliate Drinks Meetup, Affiliate Space Awards, or Fridman Palace.
Meet the N1 Partners affiliate team in Bangkok:
- Aleksei Gusarov – Team Lead of Affiliates
- Viktoriia Sokolenko – Affiliate Manager
- Roman Tsyganov – Affiliate Manager
- Batikhan Omarbayev – Affiliate Manager
- Pavel Sysoev – Account Manager
Book your slot — let’s talk business, growth, and opportunities with N1 Partners.
About N1 Partners
N1 Partners is a multi-brand affiliate program and direct advertiser, uniting 14+ casino and betting brands. The company has a strong presence in 10+ Tier-1 GEOs, Reg2Dep rates of up to 70%, and a trusted network of 10,000+ affiliates worldwide. N1 Partners delivers competitive deals for top partners: CPA up to €700 and RevShare up to 45% to ensure partners always are number one!
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