LeoVegas co-founder Gustaf Hagman steps down as CEO after 14 years

LeoVegas Group has announced a major leadership change, with longtime CEO Gustaf Hagman stepping down after 14 years and Deputy CEO Mattias Wedar assuming the role, as the MGM-owned gaming operator continues to integrate its recent acquisitions and international expansion plans.

Hagman co-founded LeoVegas in 2011 with Robin Ramm-Ericson. He remained CEO as the company expanded across Europe, acquiring local brands and developing its proprietary technology.

In 2022, LeoVegas was acquired by MGM Resorts International in a $607 million deal aimed at expanding MGM’s online gaming presence in Europe and utilizing LeoVegas’ platform for growth in Latin America.

In June 2024, LeoVegas acquired Tipico's US business, including its sportsbook platform. The purchase was intended to support BetMGM’s entry into Brazil, which took place earlier this year.

These developments align with MGM’s broader strategy to extend its iGaming reach into regulated markets outside the United States.

Wedar takes over as CEO

Mattias Wedar, who began serving as deputy CEO in April 2025, has taken over as chief executive. He was previously LeoVegas’ chief product and technology officer from 2019 to 2025.

Before joining the company, Wedar was CEO at Gametek, which launched the Mr Green brand, and earlier held a senior executive role at Eniro, a European digital search business.

“With Mattias as CEO, LeoVegas Group will further develop its technology- and product-driven focus, accelerate its global growth and continue its pursuit of creating the world’s greatest iGaming," reads the company's statement on the leadership shift.

The company also recognized Hagman’s contributions in building a company that operates much of its own gaming infrastructure.

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

According to MGM Resorts International's interactive President Gary Fritz, Hagman’s leadership, along with LeoVegas’ product development and regional expansion, helped position both BetMGM and LeoVegas for future global operations.