Aristocrat Leisure to Acquire NeoGames for $1.2 Billion, Expanding into Online Gaming

Aristocrat Leisure, an Australia-based major slot machine manufacturer, is set to acquire NeoGames, an online gaming solutions provider, for approximately US$1.2 billion. NeoGames' shares surged by 120% in pre-market trading on the US market following the announcement.

Under the proposed deal, Aristocrat plans to purchase all of NeoGames' shares at a price of US$29.50 per share. The acquisition is expected to be completed within a year, pending the required regulatory approvals. The primary objective behind this acquisition is for Aristocrat to gain entry into the highly profitable iLottery market and expand its presence in other online real money gaming (RMG) sectors.

NeoGames specializes in providing technology solutions and content for the online RMG industry. The board of directors of NeoGames has recommended that shareholders accept Aristocrat's offer. Aristocrat anticipates this purchase will contribute positively to its profit starting from the 2025 financial year.