LeoVegas Co-Founder and CEO Gustaf Hagman steps down

Gustaf Hagman has stepped down as CEO of LeoVegas Group after co-founding the iGaming company some 14 years ago. 

“After 14 incredible years, today marks my last day as CEO of LeoVegas Group. It’s amazing to think it all started at a barbecue, a spin of a phone, and an ambition to challenge the world of iGaming,” Mr Hangman wrote. 

“What began as a spark of an idea with Robin Ramm-Ericson quickly evolved into a vision built on product and technology, recognising the potential of touchscreens and mobile gaming.”

The Swedish CEO also announced that he is “passing on the reins” to Mattias Wedar, a Team Leo veteran. 

“LeoVegas Group is geared up for its next chapter, and I couldn’t be more excited about the future. I’m thrilled to pass the reins to Mattias Wedar, a Team Leo veteran and proven leader with unmatched knowledge of our products and a passion for innovation,” he said.

His tech and data-driven approach combined with understanding of their players makes him the “perfect person to lead LeoVegas Group forward”, he added.

“I have full confidence in Mattias and the entire management team.”

LeoVegas was launched on January 12, 2012, with five mobile games and has been “committed to being data-driven from day one – a principle that has guided our decisions ever since”, according to the former CEO. 

“Building this company and watching it grow into the global iGaming force it is today has been the most rewarding entrepreneurial journey of my life”

A pivotal moment, Mr Hamgan added, was the development of Rhino, their proprietary technology platform. 

“Building and owning our tech was a game-changer; without Rhino, we wouldn’t be where we are today.”

“Thank you to everyone at LeoVegas Group and MGM for your dedication, support, and shared passion. LeoVegas Group will always hold a special place in my heart, and I look forward to cheering you on from the sidelines!,” he said.

“As I step aside, I leave you all with a final Roar! May it echo through the continued success of LeoVegas Group.”

LeoVegas went public in 2016, before being acquired by the US-based MGM Resorts International for just over €600 million in 2022.