Australian gaming giant Aristocrat Leisure Limited said Friday it has received all necessary regulatory approvals it needs to complete the proposed acquisition of Luxemburg-based gaming platform provider NeoGames S.A.
It also confirmed that all antitrust and foreign investment regulatory clearances have been received, marking a further step towards completion of the Acquisition before the final NeoGames shareholder vote.
Aristocrat first revealed its plans to acquire 100% of NeoGames in May 2023 for a total consideration of US$1.2 billion, adding at the time that the target’s Board of Directors was recommending the deal and that shareholders representing 61% of its outstanding shares had already agreed to vote in favor.
On Friday, Aristocrat said the two companies “ are continuing to work together to progress the remaining steps required to complete the acquisition,” with the shareholder vote scheduled to take place 26 April 2024.
NeoGames is described as a global leader in content and technology solutions for the online RMG industry, with the full-service suite including content, proprietary technology platforms and a range of value-added services across iLottery, iGaming and Online Sports Betting. The company currently has around 1,100 staff and more than 200 customers across more than 50 regulated markets.
Aristocrat has previously stated that acquisition will deliver on its online RMG (real money gaming) strategy and accelerate growth by immediately positioning the company with global scale and capability, with a “particular opportunity for expansion in the large, growing and still relatively nascent North America segment, as well as more broadly across Europe and Rest of World markets.”
Aristocrat had previously engaged in a failed attempt to acquire UK-based platform provider Playtech plc.
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