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MGM Resorts gains regulatory approval for proposed LeoVegas acquisition

22nd August 2022 11:16 am GMT
LeoVegas

MGM Resorts International has secured all requisite governmental and regulatory approvals in relation to its proposed acquisition of online betting and gaming operator LeoVegas.

The proposed acquisition of LeoVegas by MGM Resorts subsidiary MGM Casino Next Lion was first announced in May, with completion subject to a number of conditions, including receipt of all regulatory, governmental or similar clearances, which have now been received.

The acceptance period for the SEK61 per share offer (approx. $5.75 per share) expires on August 30 and settlement is expected to be initiated on or around 7 September, subject to the remaining conditions for completion.

Shares in MGM Resorts International (NYSE:MGM) closed 2.50 per cent lower at $34.73 per share in New York Friday, while shares in LeoVegas AB (STO:LEO) were trading marginally higher at SEK60.95 per share in Stockholm early Monday morning.

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