Ilottery and igaming solutions provider NeoGames has reported earnings for the fourth quarter and full year, with 2023 revenues of $254.6 million and adjusted net income of $12.8 million.
“We continue to see strong growth across our business lines, as three of our four segments, including ilottery, games and sports all demonstrated strong double-digit growth in 2023”, said Moti Malul, NeoGames CEO.
Fourth-quarter revenue was $64.9 million, down 21.9 percent compared with $83.2 million last fourth quarter. Despite the decrease, NeoGames’ ilottery business saw a growth of 11.1 percent in the fourth quarter and 22.4 percent for the full year. Ilottery revenues in the fourth-quarter were $14.4 million in Q4, with NPI revenues of $17.2 million. Total ilottery revenue was $31.6 million.
While fourth-quarter igaming revenue decreased from $54.8 million in 2022 to $33.4 million in 2023, games revenue increased from $5.8 million to $9.2 million, and sports revenue jumped from $8 million to $12.4 million.
“We are very pleased with the progress we made during the fourth quarter and during the entire year of 2023, progressing our strategic goals and working to complete our merger with Aristocrat Leisure, which we announced last May,” Malul said.
In May, Australian gambling machine manufacturer Aristocrat agreed to acquire NeoGames for $1.8 billion. The companies continue to work together to complete the acquisition by this May, pending regulatory approval.
