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MGM makes waves as it acquires LeoVegas for €605m

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Earlier this year, in May 2022, MGM made a cash offer to purchase LeoVegas for 100% of their shares. Only a few months later, the purchase is now being finalised in a deal worth €605 million.

MGM is a force to be reckoned with in the casino industry, especially as it continues to grow its portfolio of MGM casinos.

Earlier this year, in May 2022, MGM made a cash offer to purchase LeoVegas for 100% of their shares. The news was met with enthusiasm, and only a few months later, the purchase is being finalised in a deal worth €605 million.

The deal proves that while MGM is flourishing in the US with its land-based casinos, it plans to make waves in other parts of the world too.

A smart purchase for MGM

Along with the purchase of LeoVegas, the company also won regulatory approval to purchase slotboss.co.uk, pinkcasino.co.uk, betuk.com, and 21.co.uk brands. By selecting brands that are well-known in the European industry, one has to wonder what MGM plans to do with these casinos and sportsbooks moving forward.

MGM chief executive and president Bill Hornbuckle commented when the original LeoVegas offer was made, saying:

“Our vision is to be the world’s premier gaming entertainment company, and this strategic opportunity with LeoVegas will allow us to continue to grow our reach throughout the world.”

“We have achieved remarkable success with BetMGM in the US, and with the acquisition of LeoVegas in Europe, we will expand our online gaming presence globally. We believe that this offer creates a compelling opportunity that allows the combined teams of MGM Resorts and LeoVegas to accelerate our global digital gaming growth and fully realise the potential of our omnichannel strategy,” continued Hornbuckle.

As the online casino and sports betting market in the United States continue to flourish, does this mean that MGM will be introducing LeoVegas to US players in the future?

Brands such as LeoVegas are more than just popular but profitable, something that is hard to find in the US. By moving a brand such as this into the US market, MGM stands to have the best of both worlds.

MGM is on the move

Recently, sports betting in Massachusetts was signed into law with the Massachusetts Sports Wagering Act. It is already suspected that MGM will be one of the first sports betting apps to take the state by storm. This once again proves that while MGM has its eye on European casinos, it will not be neglecting the US any time soon.

No matter what the business plans to do moving forward, they plan to focus on responsible gambling. BetMGM and MGM Resorts have partnered with the American Gaming Association (AGA) for Responsible Gambling Education Month.

Both companies are members of the Have A Game Plan and Bet Responsibly initiatives. These initiatives are aimed at making sure that both casual and experienced players have everything they need to bet responsibly and stay safe.

MGM Resorts is also dedicated to making sure that its staff are trained in responsible gambling practices to keep all players as safe as possible. This is great news for players around the world who visit one of the many brands owned by the gambling giant.

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