Gustaf Hagman steps down as LeoVegas CEO
LevoVegas founder and longtime CEO Gustaf Hagman has stepped down from the helm of the operator, after 14 years in the role.
Hagman founded the Swedish company alongside Robin Ramm-Ericson in 2011. The company expanded further in Europe acquiring local brands along the way.
In 2022, US gaming giant MGM Resorts acquired LeoVegas for $607m to expand into Europe and leverage the operator’s technology in LatAm.
Last June LeoVegas bought Tipico’s US business to utilise its betting platform, particularly as it moved into Brazil under the BetMGM brand earlier this year.
Mattias Wedar to step in as LeoVegas CEO
Hagman remained as group CEO throughout this process but formally stepped down from the role on Monday. Deputy CEO Mattias Wedar will take over as CEO.
Wedar has acted as deputy CEO since April, after carrying out the role of chief product and technology officer between 2019 and 2025.
Wedar previously spent time 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.
“With Mattias as CEO, LeoVegas Group will further develop its technology- and product-driven focus, accelerate its global growth and continue its pursuit of creating the world’s greatest iGaming experience,” a company statement said.
In a statement announcing the change, the company acknowledged Hagman’s role in its growth and success and his drive to build a technology-focused company that operates much of its own systems.
Reflecting on his time at the company, Hagman recalled his desire to innovate the mobile gaming sector and turn an iPhone into an interactive roulette wheel.
“When we launched in Sweden in 2012, the industry was in its infancy and we were sailing in uncharted waters. 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,” he 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,” Hagman said of Wedar’s promotion to CEO.
MGM Resorts International Interactive President Gary Fritz added: “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.”