Gustaf Hagman, co-founder of LeoVegas, has stepped down as CEO after 14 successful years. His leadership shaped the company into a leading iGaming operator known for its technological innovation and global expansion, especially after its 2022 acquisition by MGM Resorts. Now, Mattias Wedar is poised to steer the company into the future.
The Visionary Leadership of Gustaf Hagman
Gustaf Hagman co-founded LeoVegas in 2011 with Robin Ramm-Ericson, pioneering a mobile-first iGaming strategy at a time when mobile was still gaining traction. Under Hagman’s leadership, LeoVegas expanded rapidly across Europe, with key markets including the Nordics, UK, and the Netherlands. The company’s proprietary Rhino gaming platform became a cornerstone of its success, bolstering its casino and sportsbook offerings.
A significant milestone in Hagman’s tenure was LeoVegas’ acquisition by MGM Resorts International in 2022 for $607 million. This move allowed MGM to leverage the company’s expertise and technology to expand into European and Latin American markets.
Key Highlights of Hagman’s Tenure:
- Driving LeoVegas to become a leader in regulated iGaming markets globally.
- Investing in proprietary technology to enhance user experience.
- Facilitating strategic acquisitions such as Tipico’s US business in 2024, marking LeoVegas’ entry into Brazil and the strengthening of the BetMGM brand.
Leadership Transition: A New Era with Mattias Wedar
Effective June 16, 2025, Mattias Wedar has taken over as CEO of LeoVegas. Wedar has been a key figure within the company, serving as Chief Product and Technology Officer since 2019 and as Deputy CEO since April 2025. His previous experience includes leadership roles at Gametek and Eniro, equipping him with a strong background in technology and product management.
What Wedar Brings to LeoVegas:
- Extensive expertise in product-led innovation and technology.
- Proven track record in scaling digital platforms and solutions.
- A strong commitment to continuity, ensuring seamless transition post-Hagman’s departure.
Industry Impact and Strategic Outlook
The outgoing leadership was instrumental in cementing LeoVegas’ reputation as a global leader in iGaming. With Wedar at the helm, the company intends to continue evolving its product portfolio and expanding into regulated markets.
In line with MGM’s global strategy, LeoVegas is expected to further integrate BetMGM’s offerings and bolster its presence in key markets such as Europe, Latin America, and Africa. Innovation-driven technology will remain central to its strategy, ensuring the operator stays competitive in the dynamic iGaming landscape.
Recent Developments at LeoVegas:
Notably, this leadership change coincides with other executive-level transitions, including retiring Chief Commercial Officer Chris Welch in April 2025. These leadership updates demonstrate the company’s commitment to evolving while retaining foundational core values and innovation.
Conclusion
The departure of Gustaf Hagman as LeoVegas CEO marks the conclusion of a transformational era for the operator, characterized by bold innovation and expansion. Mattias Wedar’s appointment signals a continued emphasis on technology and strategic growth, positioning LeoVegas for further success in the fast-evolving global iGaming industry.
