LeoVegas appoints three new board members
The board of directors is going to have the ongoing C-level executive – Gustav Hagman the CEO from LeoVegas, Gustav Hagman the CEO of MGM Resorts, William Hornbuckle and Gary Fritz IAC’s head of gaming.
Additionally the company stated that Fritz is going to be the chairperson of the board.
The Board of Directors are going to stay in force till the end of the next yearly general meeting of the operator, while remuneration to directors will not be paid.
At the beginning of September MGM Resorts offered to purchase LeoVegas which was accepted by a whole 98.07% of the online operator’s shareholders. The whole process is expected to be done soon.
The 604 million dollars public tender offer was submitted back in spring. MGM’s offer to pay 61.00 Swedish kronor in cash per share was supported without exception by the board, simultaneously MGM received all the approvals.
This month it also became known that 65.56% of LeoVegas shareholders, who accounted for 63,047,289 of the total number of LeoVegas shares, accepted the offer’s conditions.
MGM also announced that it bought more than 30 million shares of LeoVegas.