After 14 transformative years, Gustaf Hagman, the co-founder and CEO of LeoVegas, has stepped down, marking the end of one of iGaming’s most influential leadership tenures. As the company moves forward under the ownership of MGM Resorts, Mattias Wedar takes over the reins to lead LeoVegas into a new phase of growth and innovation.
Gustaf Hagman’s Legacy at LeoVegas
Gustaf Hagman co-founded LeoVegas in 2011 alongside Robin Ramm-Ericson, laying the foundation for what would become one of Europe’s leading online gaming operators. His tenure, marked by relentless innovation and strategic expansion, not only elevated LeoVegas but also influenced the broader iGaming industry.
Key Milestones During Hagman’s Leadership
- Foundation: LeoVegas emerged as an early pioneer in mobile gaming, capturing attention for its forward-thinking platform.
- European Expansion: Through strategic acquisitions, the company strengthened its foothold in various European markets.
- MGM Resorts Acquisition: In 2022, MGM Resorts International acquired LeoVegas for $607 million, utilizing the company’s tech expertise to bolster its global strategy.
- LatAm and US Growth: LeoVegas played a pivotal role in MGM’s international ambitions, including moves into Brazil under the BetMGM brand and the acquisition of Tipico’s US business in 2024.
A Seamless Transition: Mattias Wedar Appointed New CEO
Following Hagman’s departure, Mattias Wedar, the former deputy CEO and chief product and technology officer of LeoVegas, has been appointed as the new CEO, effective immediately. Wedar brings vast industry expertise, including leadership roles at Gametek and Eniro, making him a natural fit for this pivotal position.
What This Leadership Change Signals
- Continuity: Wedar’s promotion from within ensures stability and continuity during this period of transition.
- Technology-Driven Innovation: Wedar’s background in product and technology will drive LeoVegas’ focus on cutting-edge solutions under MGM’s strategic guidance.
- Strategic Growth: The transition arrives at a crucial moment as LeoVegas continues to expand across emerging markets while strengthening its core operations globally.
Implications for MGM Resorts and Key Takeaways
LeoVegas’ leadership change comes amidst MGM’s plans to integrate the gaming operator into its portfolio and enhance its global presence:
- Wedar’s appointment aligns with MGM’s focus on leveraging digital innovation for international expansion.
- The prioritization of technology will likely accelerate MGM’s goals in LatAm and other emerging gaming markets.
- Continued innovation under Wedar’s leadership can solidify LeoVegas’ standing as a leader in the iGaming sector.
Summarizing the transition, Hagman has publicly expressed his full confidence in Wedar, stating:
“LeoVegas Group is now stronger than ever, and it is the right strategic moment to pass the baton to Mattias Wedar. Mattias has been an invaluable asset from day one, and I am confident that he is the right person to take the Group to new heights.”
The Road Ahead for LeoVegas
As LeoVegas moves forward under its new leadership, the company is well-positioned for continued growth. With MGM Resorts’ backing and a focus on innovation-driven expansion, the next chapter for LeoVegas aims to build on its already strong foundation.
