Aristocrat’s acquisition of NeoGames moves forward

Like anything in life, it starts with the first step.Today, Aristocrat Leisure Limited announced that it’s onto the second step after NeoGames S.A. shareholders voted to adopt the Business Combination Agreement and approved the statutory continuation of NeoGames from Luxembourg to the Cayman Islands (“Continuation”).On 15 May, NeoGames, a technology-driven provider of end-to-end iLottery and iGaming solutions globally, announced that it entered into this definitive Business Combination Agreement to be acquired by Aristocrat, an entertainment and content creation company delivering world-leading mobile and casino games, for $29.50 per share in an all-cash transaction, representing an enterprise value of approximately $1.2 billion for NeoGames.Today’s news is the first of two shareholder approvals required to complete the Aristocrat’s proposed acquisition of NeoGames.Certain conditions, including receipt of all required gaming as well as antitrust and foreign investment regulatory approvals, must be completed before the Continuation is completed.
The acquisition will not be completed until the Continuation requirements are complete and the NeoGames shareholders, who hold at least 66.7% of the shares, vote at the second shareholder meeting.Aristocrat expects the acquisition to be complete in FY2024.“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,” said Moti Malul, Chief Executive Officer of NeoGames, in a press release at the time of the initial announcement in May. 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.”