Aristocrat finalizes acquisition of NeoGames

April 26, 2024 4:24 PM
Photo: NeoGames (courtesy)
  • Rege Behe, CDC Gaming Reports
April 26, 2024 4:24 PM
  • Rege Behe, CDC Gaming Reports

Aristocrat Friday announced that all conditions and requirements for the acquisition of NeoGames have been satisfied, and the acquisition is complete. NeoGames shareholders “overwhelmingly” supported the acquisition at a recent meeting, according to a release.

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The deal between the two companies was first announced in May 2023. The Nevada Gaming Commission approved the deal in April 2024.

Going forward, the combined entities will be known as Aristocrat Interactive, with former NeoGames CEO Moti Malul serving as CEO. Malul, who has more than 15 years of experience with NeoGames, will report to Aristocrat Leisure Managing Director and Executive Director Trevor Croker.

Mitchell Bowen, CEO of Anaxi, Aristocrats igaming business, is stepping down effective today, but will continue with Aristocrat in an advisory capacity through the end of 2024.

“We’re thrilled to welcome NeoGames to Aristocrat,” said Croker in a statement. “The acquisition of NeoGames and its leading global online RMG platform adds to our increasing organic capabilities and will ensure that we deliver on our strategy by providing a portfolio of end-to-end solutions for igaming, ilottery and OSB operators globally.

“With our ambition to be the leading gaming platform for the regulated RMG industry, the addition of NeoGames team advances our strategy to build global scale and capability.”

With the completion of the acquisition of NeoGames, Aristocrat stated the company will adopt a revised segment reporting structure for the sixth month period ending March 31, 2024 “to better align our strategy, management structure and growth expectations.” The company performance will be reported under the primary segments Aristocrat Gaming, Pixel United, and Aristocrat Interactive.

Aristocrats results for the first half of 2024 will be released May 16, 2024. The company will provide comparative half and full year financial results for 2022 and 2023 prior to the release of its 1H24 results.