MGM Clears Regulatory Hurdles in LeoVegas Takeover
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MGM Resorts International has secured all the necessary regulatory and government approvals to proceed with its purchase of online gaming operator LeoVegas.
BetMGM received regulatory approval. The acceptance period for the offer is set to expire at the end of this month. Settlement for shares tendered in the offers will take place as soon as MGM can confirm that all conditions have been met. If correct, the settlement could take places on or around September 7th.
MGM has cleared regulatory hurdles in its offer to buy LeoVegas. Leovega generated revenue of $414 million in the year ended March 2022 and EBITDA of $50.6 million. For 2021, Leo vegs reported year-on-year revenue growth of$445.1 million and its EBTG business has an estimated market share of 30%.
