MGM Resorts to finalize the acquisition of LeoVegas
MGM Resorts reports that the process of buying LeoVegas is coming to an end as the company got all the needed approvals.
Back in May, MGM bid 61 Swedish króna for each share to buy LeoVegas. The success of the resort depends on a few things and “regulatory, governmental or similar clearances, approvals and decisions” recipes are part of it.
However, the other conditions mentioned in MGM Resorts’ so-called “offer document” are still in effect. For example, there might be no circumstances that could have “significant adverse effects, or can reasonably be anticipated to have a significant adverse effect on the financial position, prospects or operations of LeoVegas.
Moreover, the contingent depends also on shareholders’ approval. It is known that the period of the acceptance is not going to be valid by the end of August.
The settlement of the proposed shares is going to happen in the future when the company states that the terms of the offer are fully done, or if MGM makes the decision to finish the offer in another way.
According to Bill Hornbuckle, the chief executive officer of the MGM, with this transaction, the company has a chance to grow in the industry.
“The situation with BetMGM is great in the states as we are seeing success and by buying LeoVegas we will also expand in Europe.”