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Aristocrat sells mobile gaming business Plarium for US$620 million

Newsdesk by Newsdesk
Tue 12 Nov 2024 at 06:42
Aristocrat completes US$965 million fundraising exercise for Playtech bid
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Global gaming giant Aristocrat has announced the sale of mobile gaming business Plarium Global Limited by its subsidiary Pixel United for US$620 million.

The sale to mobile-first gaming group Modern Times Group follows a strategic announced by Aristocrat in May, with the company describing the divestment of Plarium as an important milestone that allows it to focus on growth across its regulated gaming strength in core land-based gaming, real money gaming and social casino opportunities.

The total consideration comprises US$600 million payable upon closing of the transaction and a deferred payment of US$20 million payable in April 2026, while there could also be a contingent consideration of up to US$200 million, subject to the achievement of certain financial targets over calendar years 2025 to 2028, Aristocrat explained.

Proceeds from the transaction will be deployed to fund Aristocrat’s longer term growth strategy in line with its capital allocation framework.

Acquired in October 2017, Plarium generated an internal rate of return in the mid-teens during the period of Aristocrat’s ownership, the company stated, adding that it provided capability and digital expertise across Aristocrat, diversification of its portfolio through the COVID-19 period and continues Aristocrat’s successful acquisition track record.

“The sale of Plarium follows a strategic review into our casual and mid-core gaming assets that we announced in May 2024,” said Aristocrat CEO and Managing Director, Trevor Croker. “With the expanded Aristocrat Interactive business now sitting alongside Aristocrat Gaming and our market leading mobile social casino business, we are increasingly focused on opportunities to lean into Aristocrat’s strengths in regulated gaming content and social slots.

“Aristocrat has incorporated a range of Plarium’s strategic capabilities and mobile content know-how into its core gaming operations over the past seven years, benefitting from digital marketing and UA management capability, enhanced live operations, and scaling and growing our combined social casino business. We are pleased also to have achieved an IRR from the acquisition of Plarium in excess of our target rates. Our ownership of Plarium has helped to drive Aristocrat’s digital transformation, extending our track record of successfully acquiring businesses to accelerate our strategy.”

Aristocrat also provided an update on strategic review of Aristocrat’s casual gaming assets, with the strategic review of Big Fish Games ongoing.

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The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

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