Aristocrat has inched closer to acquiring NeoGames as the Nevada Gaming Control Board recommended the approval of the transaction. The matter will be officially settled at the board’s upcoming meeting on April 18, CDC Gaming Reports reported.
NeoGames was founded in 2014 and, in 2023, secured a license to operate in Nevada. The company later received a takeover bid by Aristocrat, which wants to explore the online lottery sector and expand its overall iGaming presence.
The arrangement will see Aristocrat pay $1.5 billion in cash to acquire the Israel-based ilottery platform. The transaction is set to reinforce the former company’s activities in key regions, such as Europe and North America.
Under the deal, Aristocrat will also acquire the Aspire Core online gaming platform, the iGaming content aggregator Pariplay and the B2B sportsbook services provider BtoBet. All of NeoGames’ existing employees will be transferred to Aristocrat and put through rigorous compliance training.
The acquisition of NeoGames and its subsidiaries will solidify Aristocrat’s leadership in gaming and will immediately expand its online gambling footprint. NeoGames’ capabilities will furthermore provide its new owner with the ability to quickly capitalize on market trends and meet customer demands.
NGCB Proposed the Licensing of Aristocrat’s Elkerton
The Nevada Gaming Control Board, which recommended the approval of the M&A deal, also recommended the licensing of Aristocrat’s chief compliance officer, Tracey Elkerton. George Assad, a member of the regulatory body, said that his team favors the transaction because it would be good not only for Aristocrat but for Nevada as a whole.
Elkerton also commented on the matter, calling the transaction “transformational” for his company’s business. According to her, the arrangement will set up Aristocrat to become a global leader in iGaming.
The acquisition, Elkerton said that the deal will provide Aristocrat with the capability to power clients with cutting-edge online content and seamless player experiences. She concluded that the combined group will be poised for further growth in Europe and the United States.
We truly believe this proposed acquisition is very much aligned with Aristocrat’s strategy and long-term growth.
Tracey Elkerton, chief compliance officer, Aristocrat
In the meantime, NeoGames shareholders are yet to vote on the deal. An official voting is planned for a meeting on July 18.