MGM Resorts' LeoVegas Makes Major Move with Push Gaming Acquisition, Eyes Expansion - MGM Resorts Intl (NYSE:MGM)

MGM Resorts International MGM said its wholly owned subsidiary, LeoVegas, has entered into an agreement to acquire the majority of game developer Push Gaming Holding Limited and its subsidiaries. The financial details of the transaction were not disclosed.
Push Gaming is a creator of digital games for betting and gaming companies. The company is a proprietary content provider offering over 30 games, such as Razor Shark, Wild Swarm, Big Bamboo, and Jammin' Jars to over 200 operators globally.
The acquisition marks the first major investment by LeoVegas since becoming part of MGM Resorts in 2022.
The deal is expected to bolster the content production capabilities of LeoVegas and support its growth through expansion.
As part of LeoVegas, Push Gaming will remain under the same management team and retain its employees.
MGM expects to complete the transaction in the third quarter of 2023.
MGM held $5.9 billion in cash and equivalents as of Dec. 31, 2022.
Price Action: MGM shares are trading higher by 2.23% at $45.92 on the last check Monday.