Aristocrat Announces NeoGames Acquisition
Aristocrat has penned a “definitive agreement” to purchase omnichannel provider NeoGames at $29.50 per share in cash.
The purchase price values NeoGames at $1.2bn and have been unanimously approved by the company. The deal is expected to be completed within 12 months after all shareholder and regulatory requirements are met. However, NeoGames will merge with a privately owned subsidiary of Aristocrat and cease to be listed on the public market.
The acquisition crowns Aristocrat’s efforts to expand its online gaming operations. In 2021, the global gaming company was in the market to acquire iGaming provider Playtech. However, the deal failed to materialize in early 2022.
Founded in 2005, NeoGames has risen through the ranks to become one of the major providers of iGaming, sports betting, lottery, and player account management products. The business recently published its Q1 report for 2023, showing a 274% increase in revenue to $49.5m.
I am tremendously proud of our entire team at NeoGames, as together we have established our leadership position, driving our success across iLottery, iGaming, and online sports betting. We are delighted that the team at Aristocrat recognizes the significance of what we have built and the strategic opportunity to combine our complementary businesses. We firmly believe this transaction represents a great outcome for all of NeoGames’ shareholders, customers, and employees.