NeoGames (Facebook pic)
NeoGames, an Israeli founded technology-driven provider of end-to-end iLottery and iGaming solutions globally that is publicly traded on the NASDAQ, is set to be acquired by Aristocrat Leisure Limited, an Australian entertainment and content creation company delivering mobile and casino games, for $29.50 per share in an all-cash transaction. The deal gives NeoGames a valuation of approximately $1.2 billion.
The sale price is 104% over the volume weighted average price of NeoGames’ shares for the 3 months ending on May 12, 2023, the last trading day prior to today’s announcement of the Agreement. Following the consummation of the merger, all outstanding ordinary shares of NeoGames will be cancelled and converted into the right to receive $29.50 per share in cash and NeoGames will become a privately-held company and no longer be listed on any public market.
Aristocrat Leisure Limited is an ASX20 (Australian stock exchange) gaming company licensed in over 300 jurisdictions and operating in over 90 countries around the world. The firm offers what it calls a diverse range of products and services including electronic gaming machines, social gaming and casino management systems, but it doesn’t stop there.
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Founded in 2005, NeoGames offers iLottery solutions and services to national and state-regulated lotteries. The company says its mission is to be the long-term partner of choice for lotteries worldwide on their journey in the online interactive era.
Moti Malul, Chief Executive Officer of NeoGames commented, “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 recognizes the significance of what we have built, and the strategic opportunity to combine our complementary businesses. We firmly believe that this Transaction represents a great outcome for all of NeoGames’ shareholders, customers and employees.”
“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,” said John E. Taylor, Jr., Chairman of the Board of Directors of NeoGames.
