MGM COMPLETES THE OFFER TO THE SHAREHOLDERS OF LEOVEGAS AT 96 PERCENT AND EXTENDS THE ACCEPTANCE PERIOD

  

This announcement is not an offer, whether directly or indirectly, in Australia, Hong Kong, Japan, New Zealand or South Africa or in any other jurisdiction where such offer pursuant to legislation and regulations in such relevant jurisdiction would be prohibited by applicable law. Shareholders not resident in Sweden who wish to accept the Offer (as defined below) must make inquiries concerning applicable legislation and possible tax consequences. Shareholders should refer to the offer restrictions included in the section titled "Important information" at the end of this announcement and in the Offer Document (as defined below). Shareholders in the United States should also refer to the section titled "Important notice to shareholders in the United States of America" at the end of this announcement.

LAS VEGAS, Aug. 31, 2022.  On 2 May 2022, MGM Casino Next Lion, LLC, a wholly-owned indirect subsidiary of MGM Resorts International ("MGM"), announced a recommended public offer to the shareholders of LeoVegas AB (publ) ("LeoVegas") to tender all shares in LeoVegas to MGM at a price of SEK 61 in cash per share (the "Offer"). An offer document relating to the Offer was published on 2 June 2022 (the "Offer Document") and supplemented on 11 August 2022.

At the end of the acceptance period on 30 August 2022, the Offer had been accepted by shareholders with a total of 63,047,289 shares in LeoVegas, corresponding to approximately 64.56 percent of the outstanding shares in LeoVegas.1 Since the time of announcement of the Offer, MGM has also acquired 30,400,000 LeoVegas shares2 at prices not exceeding the price in the Offer. As a result, MGM controls in total 93,447,289 shares in LeoVegas, corresponding to approximately 95.69 percent of the outstanding shares in LeoVegas.1

MGM has decided to complete the Offer. All conditions are satisfied or have been waived. Settlement for shares tendered in the Offer during the initial acceptance period will begin around 7 September 2022.

To allow for those shareholders who have not yet accepted the Offer to tender their shares to MGM, the acceptance period is extended until 14 September 2022 at 17:00 (CEST). Settlement for shares tendered in the Offer during the extended acceptance period is expected to begin around 22 September 2022.

Since the Offer is now unconditional, shareholders who have already accepted or will accept the Offer during the extended acceptance period, have no right to withdraw their acceptances.

MGM intends to initiate compulsory acquisition proceedings in accordance with the Swedish Companies Act to acquire all shares not tendered in the Offer and to promote a delisting of the shares in LeoVegas from Nasdaq Stockholm.

As set out in the Offer Document, the Offer does not include warrants issued by LeoVegas to employees under LeoVegas' outstanding incentive programs. MGM has offered the warrant holders to sell all their warrants to MGM outside of the Offer at a price equal to the see-through value of the warrants on the basis of the price in the Offer. The separate offer to the warrant holders has been accepted by holders of all of the 2,309,550 warrants allotted and transferred to participants in the incentive programmes.

Further information

For further information on the Offer, please visit: http://investors.mgmresorts.com/investors/leovegas

The information was submitted for publication on 31 August 2022, 6:00 p.m. CEST.

Tags: MGM Casino Next Lion, LLC, MGM Resorts International ("MGM")