Australia's Aristocrat Leisure to buy software firm NeoGames for $1 bln (updated)

NeoGames SA

15/05/2023 24:39

(Updates with details on deal)
       May 15 (Reuters) - Australia's Aristocrat Leisure
 ALL.AX  on Monday said it has entered a deal to acquire
Israel-based software firm NeoGames S.A.  NGMS.O  for $1.0
billion as the gambling machine maker seeks to expand its online
presence.
    Aristocrat Leisure said it would pay a cash price of $29.50
per share to the shareholders of NeoGames to buy 100% of the
Nasdaq-listed software firm.
    The takeover would give Aristocrat entry into the attractive
iLottery market, "which is a highly regulated ... and can
facilitate further penetration across other online Real-Money
Gaming (RMG) verticals," the company said.
        NeoGames does content and technology solutions for the
online RMG industry.
  
        "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," said Aristocrat CEO Trevor Croker.
  
        NeoGames' board has recommended its shareholders vote in
favour of the deal and holders of 61% of NeoGames shares have
also executed a deal to vote in favour of the purchase,
Aristocrat said.
  
        
  
        
  
        
  


 (Reporting by Riya Sharma; Editing by Cynthia Osterman and
Chris Reese)
 ((Riya.Sharma@thomsonreuters.com;))