The objective of this study is to elucidate new information on the possibility of leadership training through business computer‐simulation gaming in a virtual working context. In the study, a business‐simulation gaming session was organised for graduate students (n = 26). The participants played the simulation game in virtual teams that were geographically dispersed and that were brought together by the use of technology. Before the gaming session, the team leaders were preselected and trained in how to operate the simulation game. Data consist of pre‐ and posttest questionnaires (the Multifactor Leadership Questionnaire measuring transformational, transactional and passive/avoidance leadership styles) and answers to open‐ended questions. The results showed the difference in participants' opinions on leadership styles before and after the training. After the gaming sessions, team members scored lower in transformational and transactional scales than team leaders. Only team leaders' leadership styles correlated with game performance. However, shared leadership among team members was typical for most successful teams. Implications for leadership training are discussed.