Operator LeoVegas has released a statement in which it claims to be fully cooperating with the Swedish Economic Crime Authority, as it launches an investigation into alleged insider trading
Operator LeoVegas has released a financial statement in which it claims to be fully cooperating with the Swedish Economic Crime Authority, as it launches an investigating into alleged insider trading.
With HQ inwards Stockholm, LeoVegas has licences to run inwards ogdoad jurisdictions, mainly inward Europe.
It is understood that the Swedish Economic Crime Authority has launched an initial probe into suspected insider trading of LeoVegas shares, and informed the troupe of the investigation on 7 June 2022.
In a statement, LeoVegas said that it was full cooperating with the SECA, and that: “No employee, member inwards the management team up or gameboard member inward the fellowship has been notified virtually any malefactor suspicion. The troupe has no more farther entropy to provide. All questions concerning the prelim investigation want to live directed to the Swedish Economic Crime Authority.”
The proclamation of this investigation comes a month after MGM Resorts International made a $607m acquisition bid to LeoVegas, in an effort to spread out and farm the MGM Resorts brandmark out of doors of the US market.
LeoVegas’ Board of Directors nem con recommended that shareholders go for this offer, the acceptance full point of which began this month and is expected to expire on 30 Aug 2022, with closure expected around September 2022.
LeoVegas stated at the time that any business deal with MGM Resorts was subject to regulatory and governmental approval.
MGM Resorts received approval from the Swedish Securities Council, confirming that its plans were compatible with existing Swedish takeover rules.
LeoVegas testament be hopeful that this new development with the SECA will non impact the trade with MGM Resorts.