A significant industry leader has purchased NeoGames in a transaction valued at $1.2 billion.
Under the terms of the agreement, the multi-channel provider will be acquired for $29.50 per share in cash.
It appears Australia is the current hub for gaming mergers and acquisitions news, as shortly after Fanatics’ acquisition of PointsBet’s US operations, comes the announcement that Aristocrat is poised to acquire NeoGames. The deal assigns a $1.2 billion valuation to NeoGames at a price of $29.50 per share. NeoGames itself is the result of several acquisitions, encompassing brands like Pariplay, BtoBet, and Aspire Global within its portfolio.
The company’s ascent in the sector, particularly recognized for its diverse offerings spanning iGaming, sports wagering, lottery, and player account administration, has captured the interest of one of the industry’s titans. In fact, Australia-based Aristocrat had previously attempted to purchase supplier Playtech in late 2021, although the deal ultimately collapsed in 2022.
Nevertheless, Aristocrat will now acquire NeoGames, despite the supplier reporting a minor net deficit in its Q1 report, though revenue expansion remained robust.
John E. Taylor, Chairman of NeoGames, stated: “The NeoGames team has established an exceptional company with a solid foundation and unique assets, and we are delighted that Aristocrat acknowledges the value we have generated as a frontrunner across iLottery, iGaming, and online sports betting.”
The head of NeoGames, Moti Malul, conveyed significant satisfaction with the firm’s accomplishments, underscoring their dominance in iLottery, iGaming, and digital sports wagering. He stressed the strategic alignment and common goals shared by NeoGames and Aristocrat, implying a bright outlook for their collaboration. Malul contends that this acquisition will positively impact all parties involved, encompassing investors, clients, and personnel.