Gustaf Hagman is the former founder and CEO of LeoVegas, a Swedish online casino and sports betting operator. He built the company from a small mobile gaming startup into a global iGaming brand. Hagman stepped down as CEO in June 2025 after 14 years leading the company.
Who Is Gustaf Hagman?
Hagman co-founded LeoVegas with Robin Ramm-Ericson in 2011. The idea reportedly began at a barbecue, where the pair imagined a smartphone spinning like a roulette wheel. LeoVegas launched in Sweden in January 2012 with just five mobile games.
Building LeoVegas Into a Global Operator
From the start, Hagman focused on technology and product design rather than outside platforms. LeoVegas built its own proprietary system, called Rhino, instead of licensing one. Hagman later called this decision a turning point for the company’s growth.
Under his leadership, LeoVegas expanded into many regulated markets worldwide. The company acquired UK operator Royal Panda in 2017 and Rocket X in 2018. It later entered the newly regulated Ontario market and opened tech hubs in Poland and Spain in 2022.
Hagman also pushed LeoVegas toward stronger player protection standards. The company joined the Netherlands Online Gambling Association in 2021. That same year, it rolled out personalized deposit limits across its UK brand portfolio.
Key Acquisitions and Milestones
- 2017: LeoVegas signs a shirt sponsorship deal with Brentford FC and acquires Italian operator Winga SRL
- 2021: LeoVegas buys the Expekt sportsbook for €5 million and partners with esports firm Abios.
- 2022: MGM Resorts International acquires LeoVegas for roughly $607 million
- 2023: LeoVegas acquires game studio Push Gaming
- 2024: LeoVegas buys Tipico’s US sportsbook business to support BetMGM’s growth.
LeoVegas Under MGM Resorts Today
LeoVegas now sits inside MGM Resorts International’s global portfolio, led by CEO Bill Hornbuckle and President Patrick Dumont. The Tipico deal Hagman closed in 2024 continues to feed BetMGM’s sportsbook growth in the US, a market covered in depth in CasinoUS’s US sportsbook reviews.
Gustaf Hagman: Career At A Glance
| Detail | Information |
| Company founded | LeoVegas (2011, with Robin Ramm-Ericson) |
| Years as CEO | 2011 to 2025 (14 years) |
| Major acquirer | MGM Resorts International (2022) |
| Successor | Mattias Wedar |
| Home market | Sweden |
Awards and Industry Recognition
LeoVegas won the Online Casino of the Year award at the Global Gaming Awards London six times, most recently in February 2023. The company also donated SEK 500,000 (about $49,000) to the Red Cross in 2022 to support relief efforts in Ukraine.
Stepping Down as CEO in 2025
Hagman announced his departure on June 16, 2025, after 14 years running the company. He was succeeded by Mattias Wedar, LeoVegas’s former Chief Product and Technology Officer. Hagman said building LeoVegas was the most rewarding entrepreneurial journey of his life.
Wedar had served as Deputy CEO since April 2025 before stepping into the top role. He previously worked at gaming operator Mr Green. Hagman expressed full confidence in Wedar and the wider management team.
In Hagman’s Own Words
When he announced his departure, Hagman reflected on the company he built with Robin Ramm-Ericson. He called founding and leading LeoVegas “one of the greatest adventures of my life.” He said the same data-driven principle that guided the company’s first mobile games in 2012 still shaped its strategy today.
Hagman also spoke publicly about his path as an entrepreneur. In a 2021 interview, he discussed his career and the early days of building LeoVegas from a challenger brand into a market leader.
Gustaf Hagman’s Legacy in Online Gambling
Hagman’s data-driven approach shaped how LeoVegas built products for mobile players. His early bet on mobile-first design helped the company stand out in a crowded European market.
His path mirrors other founder-led operators who built a company from scratch, including Bet365 founder Denise Coates. LeoVegas’s growth into a global brand, and its acquisition by MGM Resorts, cemented Hagman’s reputation as one of iGaming’s most influential founders alongside the operators players compare across the best online casinos in the USA.
Frequently Asked Questions
Who founded LeoVegas?
Gustaf Hagman founded LeoVegas with Robin Ramm-Ericson in 2011.
When did Gustaf Hagman step down as CEO?
Hagman stepped down as CEO of LeoVegas Group on June 16, 2025.
Who replaced Gustaf Hagman as LeoVegas CEO?
Mattias Wedar, the former Chief Product and Technology Officer, became CEO after Hagman’s departure.
Did MGM Resorts acquire LeoVegas?
Yes. MGM Resorts International acquired LeoVegas in September 2022 for around $607 million.
