Aristocrat to purchase NeoGames in $1.2bn deal

Updated:2024-03-30 07:41    Views:103

As if there wasn't enough gaming M&A news already coming out of Australia, with Fanatics purchasing PointsBet's US business, Aristocrat has now announced the acquisition of NeoGames.

The deal is priced at $29.50 per share, which values the omnichannel provider at $1.2bn.

NeoGames itself was formed via a series of acquisitions, with brands under its ownership including the likes of Pariplay, BtoBet and Aspire Global.

And its rise through the ranks of the industry – perhaps most notably its portfolio covering iGaming, sports betting, lottery and player account management – has caught the eye of one of the sector's biggest firms.

Indeed, Australia-based Aristocrat had previously been in the market to buy supplier Playtech in late 2021, although that deal fell through in 2022.

Now,Online Casino Games however, Aristocrat will instead turn to NeoGames – a supplier that recently reported a small net loss but healthy revenue growth in its Q1 report.

NeoGames Chairman John E. Taylor explained: “The NeoGames team has built a great company with a strong platform and differentiated assets and we are pleased that Aristocrat recognises the value we’ve created as a leader across iLottery, iGaming and online sports betting."

Meanwhile, NeoGames CEO Moti Malul added: “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 recognises 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.”

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