Following its recent acquisition by MGM Resorts International, iGaming operator LeoVegas has announced a new three-member board of directors.
The new board consists of MGM Resorts CEO Bill Hornbuckle, LeoVegas CEO Gustaf Hagman and Gary Fritz, who currently serves as head of gaming at IAC, one of LeoVegas’ largest shareholders.
According to LeoVegas, Fritz will chair the new board, which will remain in place until the company’s next annual meeting. The directors will not receive compensation for the appointments.
MGM’s acquisition of LeoVegas for a total of $604 million in cash was first announced in May—the deal has received approval from the boards of both companies, as well as applicable governmental and regulatory bodies.
The terms of the deal were accepted by 98.07 percent and 65.56 percent of MGM and LeoVegas shareholders, respectively.
MGM now controls 95.69 percent of the iGaming operator’s business, equivalent to over 93,000,000 shares.
