Las Vegas-based casino giant MGM Resorts International has launched a bid to acquire Swedish iGaming operator LeoVegas for $607 million (€577 million), via an offer of SEK61 (€5.85) in cash per share.

The move would pave the way for the US operator to expand its presence in Europe, building on MGM’s success in the sports betting arena achieved via its joint venture BetMGM.

The acceptance period for the offer will begin in June and expire on or around August 2022.

LeoVegas is a leading operator in Europe, with licences in several leading jurisdictions.

Elsewhere, on 4th April, the firm relaunched its LeoVegas and Royal Panda brands as the Ontario iGaming market was opened.

The firm begun 2022 in a solid fashion with revenue growing two per cent overall in the first quarter. Excluding the Netherlands, growth was nine per cent.