LeoVegas confirms new CEO with change at the top

LeoVegas has confirmed the appointment of Mattias Wedar as the company’s new CEO, taking over from Gustaf Hagman, who departs the role after 14 years. 

The latter has recently been focused on creating expansion opportunities for LeoVegas’ sports betting division, including Tipico US. 

Hagman has been instrumental in the development of LeoVegas over the years. As a co-founder of the Swedish gaming firm, he has led the company, alongside Robin Ramm-Ericson, beyond its core home market to expansion across the Nordics and other European markets, including the Netherlands and the United Kingdom. 

Last year, Hagman played a central role in the sale of LeoVegas to MGM International, and on the current timeline, he believes now is the time to step aside. 

“When we launched in Sweden in 2012, the industry was in its infancy, and we were sailing in uncharted waters,” he said in the official press release.

“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 continued, “Now, as part of the MGM family, LeoVegas Group is now stronger than ever, and it is the right strategic moment to pass the baton to Mattias Wedar.”

His successor steps up from the position of Deputy CEO, while he has been working as Chief Product and Technology Officer (CPTO) since June 2019.

Previously, Wedar served as CEO of Stockholm-based developer Gametek between 2017 and 2019, and now he will need to push on to show his leadership credentials to lead LeoVegas at time of growth for the company, especially now it is underpinned by the powerful and influential MGM Resorts Group. 

In the United Kingdom, BetMGM is a joint venture with the Entain group, which yesterday announced increased projections for the company. 

“During the six years I have been part of what we call Team Leo, I have been consistently impressed by our innovation, pioneering spirit, and strong corporate culture, said Wedar.

“The success story that Gustaf and Robin began 14 years ago is stronger than ever, and we see many exciting opportunities on the horizon. I am honored to have been entrusted with the challenge of taking on the role of CEO in LeoVegas Group’s new chapter, and I look forward to continuing to lead us towards new milestones.”

Gary Fritz, President at MGM Resorts International Interactive, commented that: “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. I would like to thank Gustaf for his dedication and leadership, and I have full confidence that LeoVegas Group, under Mattias’ leadership, will continue to deliver on our strategic plan. We look forward to supporting him and LeoVegas Group in our shared growth journey.”

Image credit: LeoVegas

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