Aristocrat to acquire NeoGames for AU$1.8b

Aristocrat to acquire NeoGames for AU$1.8b

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Aristocrat to acquire NeoGames for AU$1.8b

Aristocrat Leisure has recently announced its acquisition of NeoGames for 1.8 billion Australian dollars.

Through this latest acquisition, Aristocrat will significantly enhance its portfolio of real-money gambling offerings. Each of NeoGames’ four operating divisions will present exciting opportunities for the former, allowing it to expand its presence across numerous industry segments around the world.

Aristocrat will also be entering the market of online lotteries with NeoGames’ core offerings, allowing it to take advantage of the growing prevalence of the sector. This purchase will add over a thousand new staff members to Aristocrat’s team, in addition to a list of more than 200 customers spread throughout over 50 worldwide markets.

The MD and Chief Executive of Aristocrat Leasure, Trevor Croker, stated:

“This acquisition will greatly expand our presence in the industry and allow us to grow our catalog of offerings in numerous segments. This partnership fits in perfectly with our long-term strategic goals and will grant us lots of opportunities to further enhance our business all around the world.”

NeoGames’ Chief Executive and MD, Moti Malul, remarked:

“Joining Aristocrat’s expansive family of top-notch companies is quite an exciting proposition for us. We are certain that together we will be able to further stand out from the competition and deliver unbeatable offerings to our growing client base.”

While the deal is still subject to shareholder and regulatory approvals, investors holding a combined over 60% of NeoGames’ stock are estimated to vote in favor of the agreement. Additionally, the company’s board has also expressed its approval of the purchase, advising shareholders to vote in favor of it.

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