Good Morning. Australian gaming machine group Aristocrat is moving hard into the RMG space, announcing the acquisition of NeoGames for $1.2 billion, all to be settled with cash on hand. In Singapore, Genting announced strong results from Resorts World Sentosa, as regional visitation recovered, fuelling gaming demand. In the Philippines, GGR results continued to impress, at $1.24 billion, with Entertainment City shining. Okada Manila got a healthy piece of the pie, raising EBITDA by 226 percent quarterly, propping up Universal Entertainment’s drop in pachinko and pachislot sales.
What you need to know
- Aristocrat has announced the acquisition of NeoGames for some $1.2 billion, as it aims to move strongly into the RMG space.
- Genting Singapore reported a 220 percent increase in 1Q23 net profit, as Resorts World Sentosa benefited from ongoing regional travel recovery.
- First quarter gross gaming revenue in the Philippines topped $1.24 billion, with Entertainment City GGR up 69 percent yearly.
- Universal Entertainment saw strong results from Okada Manila, with EBITDA up 226 percent, even as its pachinko and pachislot segment dropped.
On the radar
- International Ent. purchasing $5.7mln in slots from RGB for Manila property.
- Lawrence Ho-linked SPAC to merge with Vietnamese e-vehicle company.
- City of Dreams Mediterranean in Cyprus will have a soft opening in June.
- Sands to extend dividend restriction period to 2025.
AGB Intelligence
ACQUISITIONS
Aristocrat to acquire RMG giant NeoGames for $1.2 billion
Aristocrat aims to move heavily into the RMG space, announcing the acquisition of segment giant RMG for a whopping $1.2 billion, all in cash. The purchase is set to increase the group’s growth opportunities globally in the space, particularly in North America. The acquisition delivers four RMG business units – NeoGames, Pariplay, AspireCore and BtoBet – encompassing iLottery, iGaming and online sports betting solutions.
Industry Updates
- Tangam Systems announces new partnerships in Asia for SODA software.
- IBJR partners with the IBIA to develop actions for sports integrity in Brazil.
