LeoVegas Will Re-Enter Netherlands in Autumn

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Online betting software group LeoVegas has posted its second-quarter 2022 financial results, noting that the company is planning to re-enter the Dutch gaming market this fall.

The company revealed that revenues were up 1.1% when compared to last year. The numbers are better if you take away the Dutch market that the company was still active in last year, as they'd have been up 9%. The operator said that it plans to re-enter the market after obtaining a license in the Netherlands from the KSA, stating that they believe it'll happen sometime this fall.

LeoVegas also noted that they launched in the Canadian province of Ontario in April when the market went live.

Company CEO Gustaf Hagman also spoke about the group's ongoing negotiations and purchase offer by MGM Resorts, who offered to pay $607 million for Leo.

Regarding the process, Hagman said, "In the beginning of May, US company MGM announced a takeover bid for all shares in LeoVegas.

"It seems likely that the bid will be accepted, which would lead to the company's shares being delisted from Nasdaq Stockholm later in the year.

"The expansion project in the US and New Jersey was paused at the end of the quarter due to the ongoing bid and the initiatives and obligations that MGM already has in the US market.

"The assessment is therefore that the most responsible course of action is to pause the expansion until we know whether the bid on LeoVegas will be accepted. If a launch is made possible in the future, we will be able to resume the US expansion with a short start-up period."

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Therese Williams // UK Correspondent
Therese Williams
Therese is a fervent fan of slot machines and pub fruities, often trying her luck at some of the top online casinos. She covers news for Casino Listings with a focus on the UK and Europe. Therese studied arts and creative writing at university and has written for newspapers in the UK.