Casino games company Aristocrat to buy NeoGames for $1 bn

Aristocrat Leisure, a leading mobile and casino games company based in Australia, has entered a deal to acquire Israel-based software firm NeoGames, a provider of iLottery and iGaming solutions globally, for $1 billion in order to expand its online presence.
Aristocrat GamingNeoGames, a technology leader in iLottery and iGaming solutions and services for regulated lotteries and gaming operators, is aiming to achieve revenue of $235 million to $255 million in 2023. NeoGames has around 1,100 staff and more than 200 customers across more than 50 regulated markets.

NeoGames is a compelling strategic acquisition for Aristocrat to deliver its online RMG ambitions and comprises four complementary business units.

NeoGames’ iLottery business is an industry leading global iLottery full technology PAM providing solutions and services to national and state-regulated lotteries. The global size of the iLottery TAM in 2022 was $11 billion. NeoGames’ iLottery business is #1 in the United States. It has 17 customers across three continents.

AspireCore is a leading B2B PAM and managed services provider globally serving 30+ partners with a full suite of products. The global iGaming and OSB TAM market in 2022 was $70 billion. It has a strong platform in iGaming and OSB business. It is a leader in PAM and Managed Services in Europe. It has 30 partners.

Pariplay is a leading aggregator and content provider in the iGaming industry with over 15,000 multiplatform games across a significant network of >140 operators. The global iGaming TAM market was $22 billion in 2022. It’s a leading aggregator in the iGaming industry in Europe. It services 1,000 plus brands.

BtoBet offers a customisable sportsbook solution in the attractive Online Sports Betting segment. The global OSB TAM market was $48 billion in 2022. It has 20 plus partners in the Online Sports Betting segment.

Aristocrat Leisure said it would pay a cash price of $29.50 per share to the shareholders of NeoGames to buy 100 percent 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.

Aristocrat CEO 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 industry-leading 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.”

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