Australian Aristocrat Leisure buys software company NeoGames for $1 billion
Summary
(Reuters) – Australia’s Aristocrat Leisure said Monday it has struck a deal to acquire Israel-based software company NeoGames SA for $1.0 billion as the slot machine maker looks to expand its online presence. Aristocrat Leisure said it would pay a cash price of $29.50 per share to NeoGames shareholders to buy 100% of the Nasdaq-listed software company. The acquisition would give Aristocrat access to the attractive iLottery market, “which is highly regulated … and may facilitate further penetration into other online Real-Money Gaming (RMG) verticals,” the company said. “We see great opportunity in the combination of our complementary businesses, with clear revenue and growth potential delivered with a complete and seamless online RMG solution,” said Trevor Croker, CEO of Aristocrat. NeoGames’ board recommended that its shareholders vote in favor of the deal, and holders of 61% of NeoGames’ stock also made a deal to vote in favor of the purchase, Aristocrat said.
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