LeoVegas, the prominent iGaming operator, has announced a significant leadership transition, with co-founder and long-serving CEO Gustaf Hagman stepping down
LeoVegas, the prominent iGaming operator, has announced a significant leadership transition, with co-founder and long-serving CEO Gustaf Hagman stepping down after 14 years at the helm. Deputy CEO Mattias Wedar has been appointed as his successor, taking over the top executive role on Monday, June 16, 2025.
Gustaf Hagman, who founded the Swedish company alongside Robin Ramm-Ericson in 2011, led LeoVegas through a period of substantial growth and expansion across Europe, acquiring various local brands along the way. In 2022, LeoVegas was notably acquired by US gaming giant MGM Resorts for $607 million, a strategic move by MGM to expand its footprint in Europe and leverage LeoVegas’s technology, particularly in Latin America. Last June (2024), LeoVegas further expanded its operational capabilities by acquiring Tipico’s US business, intending to utilise its betting platform, notably for its move into Brazil under the BetMGM brand earlier this year (2025).
Hagman remained as group CEO throughout these significant corporate developments but formally transitioned out of the role on Monday. Mattias Wedar, who has served as Deputy CEO since April (2025) and previously held the position of chief product and technology officer between 2019 and 2025, has now assumed the CEO role. Wedar brings a wealth of industry experience, having previously served as CEO for Gametek, the company that founded Mr Green. Prior to that, he was a senior executive at Eniro, a European online search engine.
A company statement, as reported by iGaming Times, conveyed that with Mattias Wedar as CEO, LeoVegas Group is expected to “further develop its technology- and product-driven focus, accelerate its global growth and continue its pursuit of creating the world’s greatest iGaming experience.” The company acknowledged Hagman’s pivotal role in its growth and success, particularly his drive to build a technology-focused company that operates much of its own systems.
Reflecting on his tenure, Hagman recalled his initial desire to innovate the mobile gaming sector and his vision of transforming an iPhone into an interactive roulette wheel. He stated, as reported by iGaming Times, that when LeoVegas launched in Sweden in 2012, “the industry was in its infancy and we were sailing in uncharted waters.” He added, as reported by iGaming Times, that 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.” Hagman expressed strong confidence in his successor, stating, as reported by iGaming Times, that Wedar “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 MGM Resorts International Interactive, also commented on Hagman’s legacy, stating, as reported by iGaming Times, that “Gustaf Hagman’s leadership and LeoVegas Group’s expertise in product development and local market expansion have laid the foundation for positioning both BetMGM and LeoVegas as global leaders in the industry.”
The appointment of Mattias Wedar signals LeoVegas’s continued focus on technological leadership and global expansion, building on the foundation laid by its co-founder. The transition occurs as LeoVegas, now part of MGM Resorts, navigates a dynamic global iGaming landscape with ambitions for significant market share and continued innovation.
