Aristocrat Leisure Limited introduced a deal to amass 100% of NeoGames for a money worth of $29.50 per share. The transaction values NeoGames at roughly $1 billion.
According to CDC Gaming Reports, the Nevada Gaming Commission granted a license to the Israel-based NeoGames after the Gaming Control Board gave preliminary approval. Gambling regulators in Indiana reportedly can even have a look at the deal.
As a results of the merger, NeoGames will turn out to be a part of the Aristocrat Group.
NeoGames gives content material and know-how options for the net real-money playing business, together with on-line casinos, lottery, and sports activities betting. According to Nevada-based Aristocrat, NeoGames has round 1,100 employees and greater than 200 prospects throughout greater than 50 regulated markets.
NeoGames has over 20 companions and 50 manufacturers in Africa, Europe, and Latin America.
Aristocrat stated it believes the acquisition will speed up its development technique and ship strategic advantages, “positioning Aristocrat with global scale and capability immediately in the growing $81 billion online gambling market.”
“Bringing together NeoGames and our growing Anaxi business will position Aristocrat with global scale and capability in the growing online RMG industry,” Aristocrat CEO and Managing Director, Trevor Croker, stated.
“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. NeoGames also shares a strong commitment to sustainability, responsible gameplay, and people-first culture, which is central to everything we do.”
NeoGames CEO and Managing Director, Moti Malul, stated: “We are excited to join one of the world’s most successful and respected gaming companies and be able to play a significant role in its future growth story.”
Aristocrat will fund the acquisition with money available, together with transaction bills. The firm stated that it continues to focus its capital allocation on driving natural development and investing in M&A alternatives.