Aristocrat Leisure Limited announced a deal to acquire 100% of NeoGames for a cash price of $29.50 per share. The transaction values NeoGames at approximately $1 billion.<\/p>\n
According to CDC Gaming Reports, the Nevada Gaming Commission granted a license to the Israel-based NeoGames after the Gaming Control Board gave preliminary approval. Gambling regulators in Indiana reportedly will also look at the deal.<\/p>\n
As a result of the merger, NeoGames will become part of the Aristocrat Group.<\/p>\n
NeoGames provides content and technology solutions for the online real-money gambling industry, including online casinos, lottery, and sports betting. According to Nevada-based Aristocrat, NeoGames has around 1,100 staff and more than 200 customers across more than 50 regulated markets.<\/p>\n
NeoGames has over 20 partners and 50 brands in Africa, Europe, and Latin America.<\/p>\n
Aristocrat said it believes the acquisition will accelerate its growth strategy and deliver strategic benefits, positioning Aristocrat with global scale and capability immediately in the growing $81 billion online gambling market.<\/p>\n
Bringing together NeoGames and our growing Anaxi business will position Aristocrat with global scale and capability in the growing online RMG industry, Aristocrat CEO and Managing Director, Trevor Croker, said.<\/p>\n
We see great opportunities in the combination of our complementary businesses, with clear revenue and growth potential that comes with a complete and seamless online RMG solution. NeoGames also shares a strong commitment to sustainability, responsible gameplay, and people-first culture, which is central to everything we do.<\/p>\n
NeoGames CEO and Managing Director, Moti Malul, said: We are excited to join one of the worlds most successful and respected gaming companies and be able to play a significant role in its future growth story.<\/p>\n
Aristocrat will fund the acquisition with cash on hand, including transaction expenses. The company said that it continues to focus its capital allocation on driving organic growth and investing in M&A opportunities.<\/p>\n<\/p>\n<\/p>\n
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Aristocrat To Acquire NeoGames In $1 Billion Gambling Deal - CardPlayer.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Aristocrat Leisure Limited announced a deal to acquire 100% of NeoGames for a cash price of $29.50 per share. The transaction values NeoGames at approximately $1 billion Continue reading