Aristocrat Leisure Completes Regulatory Pre-Approvals for NeoGames Acquisition

Regulatory obstacles have been overcome by Aristocrat Leisure Limited, opening the door for its eagerly awaited purchase of iLottery and iGaming solutions provider NeoGames.

The purchase, which was valued at over $1.2 billion and was disclosed in May of last year, is a significant premium over the share price of NeoGames by almost 104%.

Aristocrat announced on Friday that it has received the necessary regulatory permissions for foreign investment and antitrust, advancing the acquisition toward conclusion.

This transaction is subject to the outcome of a crucial shareholder vote held by NeoGames on April 26.

Aristocrat believes that, subject to the results of the shareholder vote, the transaction will close on or around April 26, 2024.

John Taylor, the chairman of the board of directors at NeoGames, highlighted the company’s strength and expressed confidence in the value that Aristocrat’s bid offers to shareholders as he thought back on the impending acquisition.

NeoGames will relocate its headquarters from Luxembourg to the Cayman Islands in accordance with the terms of the acquisition agreement.

Furthermore, NeoGames and Aristocrat’s wholly-owned subsidiary will merge, with NeoGames emerging as the surviving company and a wholly-owned subsidiary of Aristocrat.

NeoGames will become a privately held business after the merger and won’t be listed on any public markets.

This calculated move highlights how the two businesses will likely consolidate and work together in the competitive gaming industry.

Original Story by: Asian Gaming Brief