LeoVegas aims to re-enter Netherlands in autumn as exit continues to hit earnings; acquisition by MGM on track

LeoVegas aims to re-enter Netherlands in autumn as exit continues to hit earnings; acquisition by MGM on track

Article brief provided by iGaming Business
  • Marese O'Hagan, iGaming Business
August 11, 2022 9:42 PM
  • Marese O'Hagan, iGaming Business

    LeoVegas posted revenue of €98m ($101.1m/ £82.7m) in its second quarter, as it eyes an autumn launch date for its re-entry into the Netherlands.

    Revenue was up by 1.1% compared to Q2 2021. LeoVegas said that excluding the Netherlands, the revenue was up 9%.

    Reflecting on the quarter, LeoVegas said MGM’s acquisition of the business is going “according to plan”, and that the acceptance period for the deal will end on 30 August.

    MGM Resorts agreed to acquire LeoVegas in May, in a deal worth an estimated $607m. This is going ahead, despite the Swedish Economic Crime Authority launching an investigation into insider trading of LeoVegas’ shares the following month.