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MGM Buying LeoVegas, Positioning Itself To Lead Ontario Online Casino Market

In the US, BetMGM holds the plurality of online casino market share. In Ontario, that may also be true. However, half of BetMGM’s ownership team wants to ensure that it definitely become the province’s market leader. That appears to be why MGM Resorts International announced today that it’s buying LeoVegas for $607 million.

Less than a month ago, Ontario expanded its iGaming marketplace to include private operators. On Launch Day, BetMGM, LeoVegas and Royal Panda were among 13 private operators going live.

The Swedish LeoVegas Group is the parent company for LeoVegas and Royal Panda.

Ontario hasn’t yet released revenue figures, which will reveal the leading operators.

While not completely premature, the announcement anticipates that LeoVegas will accept the bid in June and finalize it in August. As numerous attempted mergers and acquisitions among online gambling operators demonstrate, that’s not a guarantee.

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