Key points:
- Mattias Wedar has been appointed as the new CEO of LeoVegas Group
- Wedar takes over from Co-Founder Gustaf Hagman, who has been in the position since 2011
- Hagman has expressed support for Wedar, who has already been a C-Level company executive for six years
LeoVegas Group – the European arm of MGM Resorts International – has announced the appointment of new CEO Mattias Wedar, who is set to take over from company Co-Founder and CEO since 2011, Gustaf Hagman, in a move that is effective immediately.
After setting up LeoVegas Group in 2011 alongside Robin Ramm-Ericson, Hagman has cemented his reputation over the past 14 years in charge of the operator as an avid entrepreneur – as he told Gambling Insider as part of his CEO special in 2021. Now, it may well be the case that the Swede feels his job is done at LeoVegas and will now go back to what he does best, starting a new organisation that could once again change the gaming landscape.
Indeed, this point is further emphasised by Hagman’s expression of support for his successor as part of his reflective statement on his tenure with the company, as he stated: "When Robin Ramm-Ericson and I were sitting at a barbecue, brainstorming about a spinning iPhone as a roulette wheel, I could never have imagined that it would lead us here.
"Founding and leading LeoVegas Group to become a market leader has been one of the greatest adventures of my life, and I am incredibly proud of everything we in 'Team Leo' have accomplished. When we launched in Sweden in 2012, the industry was in its infancy, and we were sailing in uncharted waters.
“With a strong team, great commitment, and a fantastic corporate culture, we navigated the course successfully and managed to become one of the leading international players – it is truly impressive. Now, as part of the MGM family, LeoVegas Group is now stronger than ever, and it is the right strategic moment to pass the baton to Mattias Wedar."
On his successor as CEO, Hagman added: "Mattias has been an invaluable asset from day one, and I am confident that he is the right person to take the Group to new heights. After 14 years of traveling and being constantly connected, I am now looking forward to a period of rest and more free time – but I will always be a part of 'Team Leo' and will continue to follow its success closely.”
Good to know: MGM Resorts took over LeoVegas in September 2022
This latest move comes within months of the announcement that former LeoVegas CCO Chris Welch would also be stepping down from his post. Also recently, LeoVegas appointed former MGA CEO Carl Brincat as its new Director of Policy and Regulatory Affairs.
Having worked as LeoVegas’ Chief Product and Technology officer for the past six years – as well as taking over as Deputy CEO in April of this year – Wedar yields extensive experience as an executive within the gaming industry. He will now oversee all group operations and report directly to MGM Resorts International Interactive President, Gary Fritz.
The departures of Hagman and Welch suggest MGM may be taking the leadership of LeoVegas into a more personalised long-term direction.
Commenting on his appointment as the new group CEO, Wedar said:
"During the six years I have been part of what we call Team Leo, I have been consistently impressed by our innovation, pioneering spirit, and strong corporate culture. The success story that Gustaf and Robin began 14 years ago is stronger than ever, and we see many exciting opportunities on the horizon. I am honoured to have been entrusted with the challenge of taking on the role of CEO in LeoVegas Group's new chapter and I look forward to continuing to lead us towards new milestones."
Fritz added: "Since MGM Resorts' acquisition of LeoVegas Group three years ago, we have consistently delivered on our established growth strategy, with a strong focus on strategic investments and the establishment of BetMGM as a leading global igaming and sports betting brand. Gustaf Hagman's leadership and LeoVegas Group's expertise in product development and local market expansion have laid the foundation for positioning both BetMGM and LeoVegas as global leaders in the industry.
"I would like to thank Gustaf for his dedication and leadership, and I have full confidence that LeoVegas Group, under Mattias' leadership, will continue to deliver on our strategic plan. We look forward to supporting him and LeoVegas Group in our shared growth journey.”
Hagman was a regular winner at the Global Gaming Awards, with LeoVegas claiming multiple victories in the Online Casino of the Year category at the Global Gaming Awards EMEA in London.
