MGM already Has All Necessary Approvals to Acquire LeoVegas
This May, MGM Resorts International struck a $607 million deal to acquire the LeoVegas gambling operator, aiming to expand its presence in Europe and other markets outside the United States. However, it was necessary to obtain several more approvals for the full execution of the deal at that time.
Now, MGM has all the necessary approvals from government, regulatory and similar bodies. But the gambling giant still has to meet some of the requirements written in the official document.
MGM has until August 31st to meet all the requirements. The deadline for accepting the offer expires on August 30th. The company expects to meet the deadline and announce the official acquisition of LeoVegas in the first half of September.
Bill Hornbuckle, MGM chief executive and president, said the company was committed to becoming a leader in the global gambling entertainment market. The acquisition of LeoVegas would be a strategic opportunity to advance MGM’s plans to expand its global footprint. Hornbuckle added that the combined teams of MGM Resorts and LeoVegas would be able to accelerate the company’s global online gambling growth to fully realize its omnichannel strategy.
We would like to remind you that Michigan online gambling revenue went up 8% in the month of July.
