Aristocrat and NeoGames mark ‘substantial milestone’ in M&A process

July 19, 2023
By
Leer en Español

The acquisition, announced in May, is predicted to complete in the first half of 2024.

NeoGames shareholders have approved an agreement with Aristocrat and Anaxi Investments for implementation. The previously announced agreement of the merger resulted in a vote of over 99% in favor of all proposals, and is the first approval necessary for the acquisition of NeoGames by Aristocrat.

NeoGames, founded in Luxemburg and based in Israel, provides iLottery and iGaming solutions internationally. Aristocrat, based in Australia, and its online division, Anaxi, posted revenue of AU$3.08bn (US$2.05bn) for H1 two months ago.

The continuation and adoption of the proposed acquisition will additionally entail acceptance of all required gaming, antitrust and foreign investment regulatory approvals. The merger will take place after particular closing conditions of the deal have been satisfied.

Brian Wyman, SVP of Operations & Data Analytics with the Innovation Group, previously commented about how fortuitous the deal will be for Aristocrat and its iGaming markets, when considering NeoGames’ recent achievements.

He said, “NeoGames’ successful sports, iLottery and online casino businesses are natural extensions for Aristocrat; which gains both NeoGames' existing market access and a seasoned team ready to execute on broader expansion plans.”

A second shareholder meeting and approval by NeoGames’ shareholders, who hold at least 66.7% of the shares, is still necessary to move forward. Both Aristocrat and NeoGames are working to advance in all mandatory steps to bring the acquisition to completion.

A spokesperson with NeoGames said, “This approval represents one of the substantial milestones towards completing the proposed acquisition.” The acquisition is expected to occur during the first half of 2024.

State-by-State

Product Spotlight

Bragg Gaming Group

Bragg Gaming Group is a global content-driven iGaming technology provider, serving online and land-based gaming operators with its proprietary and exclusive content and cutting-edge technology.
GA HUDDLE #087

John Connelly - Interblock preparing to launch online by the end of year

John Connelly, the Global CEO of Interblock, joins the Huddle to talk about:
- The company's conversion to the online space
- The performance of ETGs
- Interblock's new philanthropic efforts
- The trend of companies going private
- And more!
GA HUDDLE #086

Michael Hershman - Dispelling casino 'myths:' New York needs to lose fear of the unknown

Michael Hershman, CEO of the Soloviev Group, joins Tim Poole on the Huddle to put forward his case that the Freedom Plaza is the way to go for one of New York's casino licences. He fields a variety of questions - not shying away from any of them - on why 'myths' about casinos and a fear of the unknown should be dispelled, as well as acknowledging the strength of rival bids and discussing opposition to the project.

As the Tribal gaming sector congregates once more in the Golden State, is it too cliché of me to suggest we are heading for a golden era of Tribal gaming? With the industry set to meet at the Indian Gaming Association t...

10-11-From-the-top
From The Top: Will youth be served by Sports Betting?
Two recent interviews in our Huddle podcast revealed to Las Vegas correspondent Brian Joseph just how young sports betting entrepreneurs are becoming.
12-GA-MAR-10-year-v2
The Global Gaming Awards: Rewarding Excellence
The 10th edition of the Global Gaming Awards took place in Las Vegas last year. Gaming America looks back... and ahead to this year's.
16-18-IGA-Preview
Preview: Indian Gaming Tradeshow & Convention
Gaming America looks ahead to the 2024 Indian Gaming Tradeshow & Convention and what attendees can expect when they arrive at the Anaheim Convention Centre.
20-22-GA-Mar-888-Holding-article
888 and the US Market: A cautionary tale
Gaming America explores the risk of resting on your laurels and the challenge of remaining relevant in a rapidly expanding market.