US LeoVegas Launch in New Jersey is Terminated
LeoVegas‘ US debut looks to be terminated. Although the NJ online casino app may now be a minor participant in the US online gambling market, the company that owns it is no longer permitted to compete with its own app. Recently, a division of MGM Resorts International acquired LeoVegas Group, which has its headquarters in Stockholm.
MGM executives claimed that the business paid $604 million for LeoVegas in order to provide the Las Vegas-based retail casino network with a global online gaming footprint.
On September 30, just a few days after LeoVegas shares ceased trading on September 22, the firm submitted papers to the New Jersey Division of Gaming Enforcement (DGE).
Up until the company’s shareholders approved the offer from MGM’s Stockholm-based subsidiary, MGM Casino Next Lion, a US LeoVegas debut was still a possibility. On August 31, they decided on the price of the agreement.
LeoVegas CEO Gustaf Hagman, though, was still promising investors on August 11 that the business may revive its ambitions. LeoVegas declared in May 2021 that New Jersey will serve as the beginning point for the “King of Casino” platform’s US debut in 2022’s first half.
In May 2022, MGM made intentions to purchase LeoVegas public.
It also appears that Tropicana Atlantic City and Caesars Interactive Entertainment may be open to a new online casino deal now that LeoVegas’ debut is canceled. Only Caesars Sportsbook and Casino are currently listed by DGE on Tropicana’s online casino license.