LeoVegas Group reported a year-on-year drop in revenue and slipped to a net loss during what is likely to be its final quarter before being acquired by MGM Resorts International.

Land-based casino giant MGM is close to completing its purchase of LeoVegas, having first submitted a public tender offer worth $604.0m (£532.9m/€604.0m) in May this year. The proposal for MGM to pay SEK61.00 in cash per share was unanimously backed by the LeoVegas board, while MGM also secured all regulatory and governmental approvals.

In September, 98.07% of LeoVegas shareholders accepted the offer, while MGM was able to increase the total number of shares controlled in the online operator to 93,447,289 shares, or 95.69% of the business.