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MGM Resorts Offers $607 Million for Swedish Online Gambling Company
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MGM Resorts International is seeking to expand its online business internationally, saying it has made an offer to acquire a European mobile gambling operator for $607 million.
LeoVegas AB, which is listed on the Nasdaq Stockholm exchange, offers online casino and sports-betting products in several countries in Europe. The deal, if approved, would expand the Las Vegas-based casino operator’s online reach. In the U.S., MGM operates the BetMGM online betting brand in a joint venture with British gambling company Entain PLC.
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"Our success with BetMGM in the United States gives us more conviction than ever about the potential for digital gaming and our ability to grow share on the exciting new marketplace," MGM Chief Executive Bill Hornbuckle said Monday on a call with Wall Street analysts.