- Casino
- By State
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Georgia
- Florida
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Massachusetts
- Maryland
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
- By State
- Slots
- Poker
- Sports
- Esports
LeoVegas Top Manager Arrested Over Insider Trading Connected to MGM Takeover

On November 10, three men, one of them holding a senior manager position at LeoVegas, were arrested on charges of insider trading in connection with US casino behemoth MGM Resorts International’s acquisition of Swedish mobile gaming company LeoVegas which took place at the end of August 2022.
The Investigation Has Been Going on Since June 2022
An investigation was started by the Swedish Economic Crime Authority in June after a suspicious LeoVegas share purchase took place just before the announcement of the upcoming acquisition by MGM Resorts International.
After the official announcement of the deal, LeoVegas stock surged by 40% so anyone who bought shares in the company just before that made a significant profit.
The Authority conducted a raid at LeoVegas Stockholm headquarters. A search was carried out but no one was arrested at the time.
LeoVegas announced in a press release that they are fully cooperating with the authorities, however, no employee, board, or management member was under any suspicion.
Since then, the investigation has continued quietly – and has now reached a breakthrough with the arrest of three people. Only one of them has direct connections to the Swedish gaming company.
Only One of the Arrested Men Has Direct Connections with LeoVegas
The three men were arrested due to suspicions of insider trading in the period from February 1 to April 29, just before the official announcement of the MGM acquisition of LeoVegas made on May 2.
Only one of the men holds a top position at LeoVegas. He is the one that had insider price-sensitive information, which he is suspected of leaking out to third parties.
The other two men, which were arrested as well, are suspected of trading with LeoVegas shares having insider information. The share trading that the suspected trio is linked to prior to the announcement has generated millions in profits.
The takeover bid was announced on May 2. LeoVegas’ share price surged 40% on the same day so the profit of buying shares the Friday before that was also that high.
The three arrested suspects have stated they have not committed any crime. The LeoVegas employee has said that he denies any wrongdoing and hopes that this misunderstanding will soon be cleared up.
The prosecutor also made a statement noting that the investigation is still ongoing and currently there is no suspicion against anyone else employed by LeoVegas.
Additionally, LeoVegas issued a statement saying that they are aware of the arrest highlighting that the arrested employee is not a member of the management team or the board of directors.
Silvia has dabbled in all sorts of writing – from content writing for social media to movie scripts. She has a Bachelor's in Screenwriting and experience in marketing and producing documentary films. With her background as a customer support agent within the gambling industry, she brings valuable insight to the Gambling News writers’ team.
Previous Article
Legal
November 14, 2022
Macau’s Concessionaires Agree to Pay $12.5B Collectively in 10 Years
Must Read
Legal
August 29, 2025
A23 Challenges India’s Controversial Gaming Ban
More Articles
Casino
September 3, 2025
iGaming Ontario Appoints Joseph Hillier as President, CEO
Slots
September 3, 2025
Embrace Monstrous Creations in Play’n GO’s Lab of Madness It’s A-Wild!
Casino
September 3, 2025
PAGCOR Hacked, List of 560K Prohibited Individuals Impacted
Casino
September 3, 2025
MGCB Orders More Illegal Gambling Sites Shut Down
Casino
September 3, 2025
Dutch Gambling Licences to Require Operator Exit Plans
Industry
September 3, 2025
Lucrative Labour Day Weekend for Virgin Hotels Slot Player
Industry
September 3, 2025
America Sees Sharp Drop in Foreign Tourists in 2025
Casino
September 2, 2025
Criminal Boss “Fat Mike” Denied Compassionate Release from Prison
Industry
September 2, 2025
Kazakhstan Could Criminalize Influencers Promoting Gambling Content
Poker
September 2, 2025
Infrared Camera Poker Scam Busted in Birmingham Gambling Dens
Slots
September 2, 2025
Discover the Riches of a Molten Jungle in Play’n GO’s Fire Toad 2