The man behind the group’s success story is finally bidding the aming behemoth his adieu
LeoVegas CEO Gustaff Hagman will be stepping down from the top job, as he is withdrawing from the company, and will relinquish the hot seat in favor of Deputy CEO Mattias Wedar.
Seeing Hagman leave is no easy thing either, as the man is credited with building LeoVegas into the success story it is today and overseeing its international acquisition by MGM International.
Hagman is one of the original co-founders of the brand, along with Robin Ramm-Ericson, with whom they launched the company in 2011, and presided over its rapid growth in the decade to follow.
The patchy regulation before 2019 in their home Sweden prompted the executives to seek and project the LeoVegas Group onto international markets and focus on overseas growth, which they have succeeded in, while also expanding in the Nordics, the United Kingdom, and most recently in the Netherlands.
Hagman has navigated the company through some of its most ambitious and significant milestones, including the expansion under the MGM brand umbrella. He was thankful for the opportunity to pass the baton to Wedar, a trusted company insider who Hagman knew would continue to work in LeoVegas’ best interest.
“When we launched in Sweden in 2012, the industry was in its infancy, and we were sailing in uncharted waters. With a strong team, great commitment, and a fantastic corporate culture, we navigated the course successfully and managed to become one of the leading international players – it is truly impressive,” Hagman wrote.
Gustaf Hagman, LeoVegas CEO
MGM Resorts International also issued laudatory statements, celebrating Hagman’s leadership. Company president Gary Fritz said that Hagman’s leadership was the basis of not just LeoVegas’ success, but also that of BetMGM, the hospitality giant’s digital offshoot.
“Since MGM Resorts’ acquisition of LeoVegas Group three years ago, we have consistently delivered on our established growth strategy, with a strong focus on strategic investments and the establishment of BetMGM as a leading global igaming and sports betting brand,” Fritz added.
LeoVegas’ Success Story Is Still Being Written
BetMGM has been looking to consolidate its presence in global markets, and has leaned in heavily on both sports betting and online casino. Understandably, the iGaming offer has performed the sports betting vertical, although the company has maintained a strong presence in both.
LeoVegas in the meantime has been looking to raise its responsibility standards, staying ahead of the curve and making big regulatory changes. In the United Kingdom, the company introduced deposit limit changes, and the company further joined the European Gaming and Betting Association for cross-border cooperation.
