The Company has no further information to provide. No employee, member in the management team or board member in the Company has been notified about any criminal suspicion. LeoVegas is fully assisting the authorities in their investigation. “On the 7 of June LeoVegas was contacted by the Swedish Economic Crime Authority due to a preliminary investigation concerning suspected insider trading in the company’s shares. So far, LeoVegas insists that no one with its company is a suspect. A possible motive for such a leak would be to drive up the stock price and thus get a higher offer from MGM. The SECA’s investigation is looking into whether anyone leaked intelligence about MGM’s bid before the public announcement. Its proprietary RHINO platform supports dozens of other iGaming brands around the continent. LeoVegas’ value is not just as one of the leading online casino brands in Europe but also as a technology company. With the contemporary currency exchange, that price represented a 44% premium on the total value of the company’s stock at the time. LeoVegas is a publicly-traded company on the Swedish stock exchange. The Ekobrottsmyndigheten (Swedish Economic Crime Authority or SECA in English) is looking into the company’s handling of a recent takeover bid.Įarly in May, MGM Resorts put forth an offer of $607 million USD for 100% of LeoVegas’ shares. On Tuesday morning, Swedish regulators made an unannounced visit to LeoVegas headquarters in the nation’s capital of Stockholm. Those consequences could reach across the Atlantic Ocean in two important matters. At the same time, the possible consequences of any uncovering of wrongdoing could have severe consequences for the Swedish iGaming giant. It all depends on the results of a new investigation into allegations of LeoVegas insider trading. If you’ve been waiting on the LeoVegas online casino to make its North American debut in New Jersey, your wait could last a bit longer or perhaps extend indefinitely.
0 Comments
Leave a Reply. |