LeoVegas Under Investigation In Sweden For Insider Trading

LeoVegas is below investigation by the Swedish authorities for insider buying and selling. [Image: Shutterstock.com]

A shock seek the advice of with

Ekobrottsmyndigheten, the Swedish Financial Crime Authority (SECA), made an “unannounced seek the advice of with” to LeoVegas’ Stockholm offices early Tuesday.

completely cooperating with the probe

Particularly, authorities went to examine claims of insider buying and selling. LeoVegas, a Swedish online gaming operator, said that it’s completely cooperating with the probe; it also said that any questions from reporters wants to be channeled through the authorities. 

None of LeoVegas’ workers, board members, or executives stand accused of any appropriate wrongdoing.

Problems with the sale

LeoVegas confirmed reports that SECA paid a seek the advice of with to the Stockholm offices in a assertion Tuesday morning.

MGM’s elaborate modified into primarily primarily based on a 44% top class

The investigation comes after MGM Accommodations made a elaborate to lift the firm for $607m last month. It’s miles unclear if the hang-up will lengthen or destroy the sale, on the opposite hand it does suppose it into quiz. MGM’s elaborate modified into primarily primarily based on a 44% top class of LeoVegas’ closing ticket of shares, which may perchance well perhaps be plagued by the probe.

Swedish data web space DI urged that MGM’s elaborate modified into leaked to be ready to power up the cost, though the company’s board has since dispelled these claims. DI also reported that LeoVegas chairman, Per Norman, antagonistic the rumors.

“Leo Vegas is idea of as one of the significant few semi-huge companies with its non-public platform and a captivating stamp,” explained Norman. “So for a land-primarily primarily based operator, it may well perhaps be a rather pure candidate to construct aside a query to at.”

A certain affect already

The operator beforehand equipped to abet MGM in an audit connected to the elaborate. This incorporated a evaluation of the firm’s strategic and financial standing, future pattern, and ability risks.

Nonetheless, the sizzling intervention from SECA brought about LeoVegas’ buying and selling ticket to descend .15% to SEK 60.1 ($6.13).

LeoVegas is headquartered in Stockholm and holds eight running licenses in Scandinavia and surrounding Europe. It modified into founded in 2011 by CEO Gustaf Hagman and Chairman of the Board & Managing Director Robin Ramm-Ericson.