Aristocrat Leisure To Acquire Tech Firm NeoGames For $1 Billion By CIOTechOutlook Team

Aristocrat Leisure To Acquire Tech Firm NeoGames For $1 Billion

CIOTechOutlook Team | Monday, 15 May 2023, 03:59 IST

Aristocrat Leisure, an Australian gaming machine manufacturer, announced that it has agreed to pay $1.0 billion to acquire the Israeli software company NeoGames S.A. Aristocrat Leisure announced that it would purchase 100% of the Nasdaq-listed software company NeoGames from its shareholders for a cash price of $29.50 per share.

The acquisition would grant Aristocrat access to the lucrative iLottery industry, "which is a highly regulated... and can facilitate further penetration across other online Real-Money Gaming (RMG) verticals," according to the business. NeoGames provides technology and content solutions for the online RMG market.

"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," said Aristocrat CEO Trevor Croker.

According to Aristocrat, the board of NeoGames has recommended that shareholders approve the acquisition, and holders of 61% of NeoGames' shares have also signed an agreement to do the same. NeoGames is a technology-driven innovator and a world leader in iLottery and iGaming solutions and services for regulated lotteries and gaming operators. It provides its customers with a full range of solutions, including proprietary technology platforms, two dedicated game studios with a large selection of engaging games, and a variety of value-added services.

NeoGames provides its customers with a full-service solution that includes all the components necessary for the offering of lottery games via personal computers, cellphones, and handheld devices as a global B2G and B2B technology and service supplier to state lotteries and other lottery operators. Additionally, NeoGames provides a cutting-edge sports betting platform, a sophisticated content aggregation system, and a full suite of managed services and B2B gaming technology.