Aristocrat Snaps Up NeoGames for $1.5 Billion

Gaming firm Aristocrat Leisure has agreed to purchase online gaming software company NeoGames for $1.5 billion in what is hoped to be a major push into the US online gambling industry.

Aristocrat the Australia based machines and lottery company failed in an earlier attempt to buy Playtech for around £2 billion when shareholders at the software giant refused the offer.

However with the acquisition of NeoGames it is hoped Aristocrat can now compete in the fast growing US online gambling market including sports betting.

Aristocrat Chief executive Trevor Croker said on the deal, “We see great opportunities in the combination of our complementary businesses, with clear revenue and growth potential that comes with a complete and seamless online RMG solution.”

NeoGames has a sports book offering under its BtoBet platform and has some 1,100 staff operating in 50 regulated markets around the world.

It has not announced if any redundancies will occur due to the acquisition but the deal is not expected to be completed until 2024.

The post Aristocrat Snaps Up NeoGames for $1.5 Billion appeared first on iGaming Post.

Aristocrat Snaps Up NeoGames for $1.5 Billion
Source: Trend Philippines News