Police raid against LeoVegas New Zealand

The cause has been confirmed by LeoVegas and it has to do with the billionaire bidder from the MGM hotel chain as we reported about a month ago.

Ekobrottsmyndigheten has suspicions of insider trading of LeoVegas shares in connection with the bid from MGM which was about$2 billion onor. Nevertheless, LeoVegas says that no employee, Board member or person of LeoVegas is currently suspected of any crime.

Ekobrottsmyndighetens press officer, Niklas Ahlgren, confirms that they have had staff on site at LeoVegas headquarters in Stockholm.

Even before the bid was made public, speculation abounded about possible insider trading. Once the bid was made public, the price per share rose from$42 to$61, which was MGM's approximate bid. The bid caused an increase in LeoVegas market value of almost 50%. Even before the bid, Leovega's stock had seen a$aftig increase which raised suspicions among the public that information about the bid had been leaked.

Per Norman, chairman of the board at LeoVegas, says there is no indication that information about the bid has been leaked before it was made public. The company's board announced even before Christmas that there was interest from casino giant MGM.
LeoVegas says it is fully involved in the Ecocriminal authority's and police's investigation.

Should players be concerned who have an account with Leo Vegas?

No, there is no need to be worried.