Aristocrat Agrees To Acquire NeoGames for 1.2 Billion Dollars

Aristocrat Leisure Limited, the well-known Australian company which supplies slot games for land-based and online casinos, has announced that it will boost its online arm with the acquisition of NeoGames for 1.2 billion dollars.

The Australian company agreed to pay 29.50 dollars per share in what will be an all-cash transaction. The price is around 104 percent over the average price of NeoGames shares over the past three months.

The agreement between the two parties will see NeoGames hand over its statutory seat and registered office from Luxembourg to the Cayman Islands. Then, a subsidiary of Aristocrat would merge with NeoGames and create a new wholly owned subsidiary of Aristocrat Leisure Limited.

The board of directors of NeoGames approved the deal unanimously, while the company’s shareholders executed a support agreement with Aristocrat and voted in favor of the sale. The deal is still subject to regulatory approvals but it is expected to be fully closed within a year.

NeoGames was founded in 2005 in Malta and was at first famous for creating online scratchcards and instant win games. Then the company also developed its capability of creating online slot games and delivered several successful titles to its online casino partners.

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Speaking about the reasons behind the decision to accept the offer from Aristocrat, John E. Taylor Jr, the Chairman of NeoGames, said that the proposal offers “compelling value” for the company’s shareholders, “further validating the strength of the business that NeoGames has built.”

Trevor Croker, the Chief Executive Officer and Managing Director of Aristocrat Leisure Limited, revealed that the acquisition will give his company an “industry-leading” online RMG platform, along with a vast portfolio of solutions for iGaming and iLottery.

“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,” Trevor Croker added.

Aristocrat also tried to acquire Playtech in 2021, but that deal eventually fell through. Since then the Australian company rebranded its online division as Anaxi and also acquired Roxor Gaming, an iGaming supplier from the United Kingdom.

Source: “Aristocrat acquiring RMG giant NeoGames for $1.2 billion“, agbrief.com, May 15, 2023.