Aristocrat has announced the proposed acquisition of 100% of NeoGames for a cash price of $29.50 per share, valuing NeoGames at $1.2bn.
The acquisition represents a valuation multiple of approximately x24 NeoGames’ revenue for the first quarter of 2023.
The NeoGames board considers the terms of the acquisition to be fair and has recommended that NeoGames shareholders vote in favor of the deal.
NeoGames shareholders behold a total of approximately 20.4 million shares, representing approximately 61% of NeoGames’ outstanding shares, having also agreed to vote in favor of the acquisition.
NeoGames Chairman John E. Taylor said, “The NeoGames team has built a great company with a strong platform and differentiated assets and we are pleased that Aristocrat recognizes the value we’ve created as a leader across iLottery, iGaming and online sports betting."
NeoGames CEO Moti Malul added, "We are delighted that the team at Aristocrat recognizes 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.”
Aristocrat CEO and Managing Director, Trevor Croker, said, "Bringing together NeoGames and our growing Anaxi business will position Aristocrat with global scale and capability in the growing online RMG industry.
"Through the acquisition of NeoGames and its global online RMG platform, this transaction will deliver on our strategy by providing a portfolio of end-to-end solutions for iGaming, iLottery and Online Sports Betting operators globally.
"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.”
