Aristocratic leisure completes $1.2 billion acquisition of Neo Games

Aristocrat Leisure Limited, a leading entertainment and content production company, has completed a $1.2 billion acquisition of Neo Group Inc., a well-known iGaming and iRotary provider formerly known as Neo Games SA. The $29.50-per-share acquisition was supported by a majority of Neo Games shareholders at a recent meeting to consider completing the transaction, according to a press release from the company.

Acquired:

The process began in May 2023 when Arabistat Leisure announced its intention to acquire NeoGames, a leading provider of technology and platforms for online real money game (RMG) operations. NeoGames also provided significant value in online sports betting (OSB) technology, iGaming, and iLottery operations. At the time of the announcement on May 12, 2023, NeoGames shares were 104% less than Arabistat Leisure's $29.50 per share offer.

Neo Games Merger With Anaxi:

In total, the $1.2 billion offer included the acquisition of Neo-Games statutory seats, registry offices, and positions in the central administration. Neo-Games was to merge with Anaxi, a wholly owned aristocratic subsidiary, and move to Cayman Islands. Under the acquisition offer, Neo-Games shares would be canceled and no longer be available on the open market under fair cash compensation.

Transaction details:

Neo Games' board of directors agreed with the proposal. In addition, the majority shareholder of the company, which holds 20.382.242 shares, or about 61% of the total amount, approved the acquisition, prompting the two companies to begin trading. The transaction, which began in May 2023, was expected to take about 12 months to complete. In fact, it received customary closing conditions and regulatory approvals, and its completion was announced in an aristocratic leisure press release dated April 26, 2024.

Aristocrat Interactive Launch:

According to the same source, Avestorat will use NeoGames' expertise to strengthen the competitiveness of the group, which provides world-class gaming content across various global distribution channels. To that end, NeoGames will merge with Anaxi to launch a global integration business under the name Avestorat Interactive. Motil Malul, CEO of NeoGames, will reportedly be named CEO of Avestorat Interactive. Malul will report to Trevor Croker, CEO of Avestorat Leisure Limited, as a new member of the executive team.

NeoGames CEO Arabistat Interactive CEO:

Motil Malul will join aristocrats with many Neo Games leaders to add lasting value to their corporate operations, drawing on 15 years of executive experience in the industry and in-depth iGaming and iLotte expertise. At the same time, Anaxi CEO Mitchell Bowen will step down as executive to provide consulting services to aristocrats by the end of 2024, ensuring a smooth transition.

Commenting on the completion of the transaction, Trevor Crocker, CEO of Noble Leisure, commented, "We are delighted to welcome Neo Games to Noble. Its increasingly organic capabilities are being strengthened by the acquisition of Neo Games and leading global online RMG platforms, and we will enable it to achieve its strategy by providing an end-to-end portfolio of solutions for iGaming, iLotte, and OSB operators worldwide. Adding Neo Games to our team with the ambition of becoming a leading gaming platform for the regulated online RMG industry will advance our strategy to build global scale and capabilities."

Consolidate 1,200 people from Neo Games into aristocrats:

Noble CEO Trevor Crocker congratulates Motil Malul on his appointment as CEO of Noble Interactive, and welcomes the leaders and teams of NeGames, which consists of about 1,200 people from around the world, to the business of Noble. Crocker expressed confidence that NeoGames' executives, leaders, and broader teams will be seamlessly integrated into the company. Noble CEO also thanks and acknowledges Mitchell Bowen for his 20 years of contributing to Noble. 슬롯사이트 순위

Following the acquisition, Avolistat will modify its segment reporting structure to begin reporting earnings from key segments of Avolistat Leisure, Pixel United and Avolistat Interactive, according to a press release.