Australian gaming machine group Aristocrat Leisure Limited has announced the sale of its mobile gaming business, Plarium, to Modern Times Group (MTG) for a total enterprise value of up to $820 million.
According to a Tuesday filing with the Australian Stock Exchange (ASX), the transaction includes a fixed consideration of $620 million, with the potential for an additional $200 million based on the achievement of financial targets between 2025 and 2028.
Aristocrat’s subsidiary, Pixel United Holdings Limited, entered into a binding agreement with MTG, a leading international mobile-first gaming group known for its popular game franchises. The fixed payment of $620 million consists of $600 million payable upon completion of the deal, with a deferred $20 million payment due in April 2026.
The decision to sell Plarium follows a strategic review initiated by Aristocrat in May 2024, marking a key step in the company’s focus on strengthening its core areas, including land-based gaming, real-money gaming, and social casino operations. The proceeds from the sale will be reinvested to fund Aristocrat’s long-term growth strategy.
Aristocrat CEO Trevor Croker explained, “The sale of Plarium is a result of our review of our casual and mid-core gaming assets. As Aristocrat continues to expand its interactive business alongside Aristocrat Gaming and our leading mobile social casino offerings, we are increasingly focused on leveraging our strengths in regulated gaming and social slots.”
Plarium, acquired by Aristocrat in October 2017, contributed to the company’s portfolio diversification during the COVID-19 pandemic and has delivered a mid-teens internal rate of return (IRR) under Aristocrat’s ownership. The sale is part of Aristocrat’s ongoing strategy to streamline its operations and focus on its most promising growth areas.
