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MGM Resorts Commences Public Tender Offer For LeoVegas Shares - Quick Facts

MGM Resorts International (MGM) said it has commenced a recommended public tender offer for 100% of the shares of LeoVegas AB at a price of 61.00 Swedish kronor in cash per share, equivalent to a total tender value of approximately $607 million. The acceptance period is expected to commence on or around June 2022 and expire on or around August 2022. The company expects the acquisition to be accretive to earnings and cash flow per share.

Headquartered in Stockholm, LeoVegas is a global online gaming company with licenses in eight jurisdictions primarily in the Nordics and rest of Europe. LeoVegas generated 393 million euros in revenue and 48 million euros in adjusted EBITDA during the last twelve months ended March 31, 2022.

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