Aristocrat Closes NeoGames Deal Launching Aristocrat Interactive!

Aristocrat Leisure Limited has finally finalized its acquisition of Neo Group Ltd, now known as NeoGames S.A., after meeting all necessary conditions and receiving the green light from NeoGames shareholders. This milestone confirms Aristocrat's loyalty to strategic growth in the online Real Money Gaming (RMG) sector.

Strategic Impact and Expansion in Online RMG

The realization of the NeoGames purchase significantly strengthens Aristocrat's position in the global online RMG market. NeoGames brings expertise in various gaming verticals, including iLottery, iGaming, and Online Sports Betting (OSB), aligning perfectly with Aristocrat's growth strategy.

This acquisition is a key component of Aristocrat's 'build and buy' strategy, allowing the company to compete more effectively in lucrative online RMG verticals worldwide. By leveraging NeoGames' technology and market presence, Aristocrat aims to enhance its offerings and provide a seamless gaming experience to players.

Following the purchase, the combined operations of Anaxi and NeoGames will operate under the name Aristocrat Interactive. Moti Malul, the former CEO of NeoGames, has assumed the role of CEO of Aristocrat Interactive, bringing his extensive experience in iGaming and iLottery to lead the new business unit.

Leadership Continuity and Strategic Alignment

To ensure a smooth transition and strategic alignment, Mitchell Bowen, CEO of Anaxi, will step down from his executive role but will continue to support Aristocrat in an advisory capacity. This transition reflects Aristocrat's focus on continuity and effective leadership.

Aristocrat will adopt a revised segment reporting structure, reflecting its evolving strategy and management approach. This new structure includes three main segments: Aristocrat Gaming, Pixel United, and Aristocrat Interactive. The company will provide comparative financial results for 2022 and 2023 to facilitate understanding of the revised reporting framework.

’’ Aristocrat confirms its results for the first half of fiscal 2024 will be released on 16 May 2024, as previously advised. In order to assist modelling and reconciliation of prior year results to the new reporting structure, Aristocrat will provide comparative half and full year financial results for 2022 and 2023 prior to release of its 1H24

results.’’

With the completion of the NeoGames acquisition, Aristocrat anticipates significant growth opportunities in the online RMG sector. The company remains committed to delivering value to shareholders and stakeholders while maintaining a strong presence in the global gaming industry.

Aristocrat CEO, Trevor Croker, said "We're thrilled to welcome NeoGames to Aristocrat. The acquisition of NeoGames and its leading global online RMG platform adds to our increasing organic capabilities and will ensure that we deliver on our strategy by providing a portfolio of end-to-end solutions for iGaming, iLottery and OSB operators globally. I also congratulate the addition of NeoGames to our team to be the leading gaming platform for the regulated online RMG industry Moti Malul on his appointment as CEO of Aristocrat Interactive, and also welcome NeoGames' talented leaders and broader team of 1,200 people around the world to our business. Moti has worked closely with many of our leaders over the past 12 months through the successful acquisition and integration planning process, and will transition seamlessly into his expanded role. I sincerely thank and acknowledge Mitchell Bowen for his outstanding contribution to Aristocrat over almost 20 years. During his tenure, Mitchell held a number of executive roles, including CEO of both the Aristocrat Gaming business and Anaxi, and has been instrumental in fostering high performance, and our people and customer focused culture. I am delighted that Mitchell will continue with Aristocrat in an advisory capacity working with myself and other Aristocrat leaders over the coming period."

Source:

''Aristocrat’s acquisition of NeoGames completes'', aristocrat.com, April 26, 2024.