LeoVegas under investigation by the Swedish Economic Crime Authority

Operator LeoVegas has released a statement in which it claims to be fully cooperating with the Swedish Economic Crime Authority, as it launches an investigation into alleged insider trading. With headquarters in Stockholm, LeoVegas has licences to operate in eight jurisdictions, mainly in Europe.

leovegas stockholm gi web image
Listen To Article

It is understood that the Swedish Economic Crime Authority has launched an initial probe into suspected insider trading of LeoVegas shares, and informed the company of the probe on 7 June 2022.

In a statement, LeoVegas said that it was fully cooperating with the SECA, and that: “No employee, member in the management team or board member in the company has been notified about any criminal suspicion. The company has no further information to provide. All questions concerning the preliminary investigation need to be directed to the Swedish Economic Crime Authority.”

The announcement of this investigation comes a month after MGM Resorts International made a $607m acquisition offer to LeoVegas, in an effort to expand and grow the MGM Resorts brand outside of the US market.

LeoVegas’ Board of Directors unanimously recommended that shareholders accept this offer, the acceptance period of which began this month and is expected to expire on 30 August 2022, with settlement expected around September 2022.

LeoVegas stated at the time that any deal with MGM Resorts was subject to regulatory and governmental approval.

MGM Resorts received approval from the Swedish Securities Council, confirming that its plans were compatible with existing Swedish takeover rules.

LeoVegas will be hopeful that this new development with the SECA will not impact the deal with MGM Resorts.


Casino News Sponsor
Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Soft2Bet
Scientific Games
Digitain Malta
Follow Us

Facing Facts: Q3 2024 analysis

Gambling Insider takes a look at the Q3 results of operators...

Taking stock: The final count of 2024

Gambling Insider tracks operator and supplier prices of some...

CEO Special: Flutter CEO Peter Jackson – Playing to win

As the biggest publicly traded operator in gambling meets th...

CEO Special: Holland Casino CEO Petra de Ruiter – High flier

Petra de Ruiter, Holland Casino CEO, speaks to Gambling Insi...

A welcome from your host

A message from the Founder of the Global Gaming Awards and G...

From the event manager

A message from the Event Manager of the Global Gaming Awards...

From the Awards adjudicator

KPMG in the Crown Dependencies is the official voting adjudi...

The process

The Global Gaming Awards have deservingly earned the reputat...