Aristocrat Leisure Limited has announced a deal to acquire 100% of NeoGames at a cash price of $29.50 per share. The deal values NeoGames at approximately $1 billion.
according to Center for Disease Control Games reports, the Nevada Gaming Commission has granted Israel-based NeoGames a license after the Game Control Board gave initial approval. It is said that Indiana gambling regulators will also look into the deal.
As a result of the merger, NeoGames will become part of the Aristocrat Group.
NeoGames provides content and technology solutions to the online real money gambling industry, including online casinos, lotteries and sports betting. According to Nevada-based Aristocrat, NeoGames has about 1,100 employees and more than 200 customers in more than 50 regulated markets.
NeoGames has more than 20 partners and 50 brands in Africa, Europe and Latin America.
Aristocrat said it believes the acquisition will accelerate its growth strategy and deliver strategic benefits, “putting Aristocrat on global scale and immediate ability in the $81 billion online gambling market.”
“The combination of NeoGames and our growing Anaxi business will position Aristocrat on a global scale and capability in the growing online world. RMG Industry “Aristocrat”. CEO said Trevor Crocker, managing director.
“We see great opportunities in combining our complementary businesses, with clear revenue and growth potential that comes with full and seamless online connectivity. RMG Solution. NeoGames also shares a strong commitment to sustainability, responsible play, and a people-first culture, which is central to everything we do.”
new games CEO “We are excited to join one of the most successful and respected gaming companies in the world and be able to play an important role in its future growth story,” said Managing Director, Moti Malol.
Aristocrat would finance the acquisition with cash on hand, including transaction expenses. The company said it continues to focus capital allocation on driving organic growth and investing in merger and acquisition opportunities.