LeoVegas Group is undergoing a major leadership change.
The MGM Resorts International subsidiary announced on Monday the appointment of Mattias Wedar as the company’s new CEO. Wedar is assuming the role after serving as Chief Product and Technology Officer and Deputy CEO of LeoVegas. Wedar is taking over for Gustaf Hagman, who is stepping down as CEO after more than 12 years in the role.
Hagman relinquished his role on June 16 with Wedar immediately taking over as CEO.
“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,” said MGM Interactive President Gary Fritz. “Gustaf Hagman’s leadership and LeoVegas Group’s expertise in product development and local market expansion have laid the foundation for positioning both BetMGM and LeoVegas as global leaders in the industry.”
In his role as CEO, Wedar will continue to develop technology-focused products for LeoVegas as it continues to grow as an online casino and sports betting operator.
LeoVegas is under new leadership after former CCO Chris Welch retired in April. Welch stepped down as CCO after joining the company’s commercial efforts in 2022.
LeoVegas previously acquired Tipico’s tech stack
Last year, LeoVegas acquired Tipico’s U.S. sports betting operations after Tipico failed to gain favorable market share in regulated markets. The deal provided LeoVegas with access to Tipico’s technology and trading teams across America and in South America and Europe. Before the transaction, Tipico operated in Colorado, Iowa, Ohio and New Jersey. In the Garden State, it offered a proprietary online casino platform to players.
Tipico, owned by private equity firm CVC, had previously considered a sale before LeoVegas’ acquisition. Fanatics was rumored to be in talks with Tipico about a deal.
Fanatics would eventually acquire PointsBet’s U.S. assets for around $225 million.