Gustaf Hagman Leaves LeoVegas CEO Role After 14 Years

After more than a decade leading LeoVegas, co-founder Gustaf Hagman has officially stepped down from his role as group CEO. The transition follows 14 years of leadership during which he helped build the Swedish gaming brand into an international player.

Good to know

• Gustaf Hagman co-founded LeoVegas in 2011 and served as CEO until 2025.
• MGM Resorts bought LeoVegas for $607 million in 2022.
• Mattias Wedar has been appointed as the new group CEO.

Mattias Wedar, who previously held the deputy CEO role, will now lead the company. He joined LeoVegas in 2019 as chief product and technology officer and moved into a broader leadership role earlier this year. Before joining LeoVegas, Wedar served as CEO of Gametek and was also a senior executive at Eniro, a European search engine.

The company expressed full confidence in Wedar’s leadership, stating he would build on its product-driven approach, continue expanding globally, and enhance the user experience for LeoVegas customers.

LeoVegas built momentum before and after MGM acquisition

Founded in 2011 by Hagman and Robin Ramm-Ericson, LeoVegas quickly grew across Europe by acquiring regional brands and developing its own in-house tech. In 2022, MGM Resorts acquired the company for $607 million. The move helped MGM strengthen its position in Europe and apply LeoVegas’s systems to new regions like Latin America.

The BetMGM brand, backed by LeoVegas’s platform, recently expanded into Brazil after LeoVegas also acquired Tipico’s U.S. operations in 2023.

In a statement reflecting on his time at the company, Hagman recalled how mobile innovation was a major focus when LeoVegas launched. “When we launched in Sweden in 2012, the industry was in its infancy, and we were sailing in uncharted waters,” he said. He added that the team, along with a strong culture, helped position LeoVegas among the top global gaming operators.

He described his ambition to turn a smartphone into an interactive roulette wheel as part of the company’s early innovation drive. On Wedar’s promotion, Hagman said, “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.”

Gary Fritz, President of Interactive at MGM Resorts International, praised Hagman’s leadership and the foundation he built. He pointed to LeoVegas’s expertise in product development and local market growth as key factors that have helped both LeoVegas and BetMGM become leading global names in online gaming.

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