Aristocrat Leisure Limited has officially completed the $820 million sale of Plarium Global Limited to Modern Times Group (MTG).
The transaction, which was first announced in November 2024, follows a strategic review of Aristocrat’s casual and mid-core gaming assets that commenced in May of last year.
The transaction included 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.
At the time, 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 proceeds from the sale will be utilized in alignment with Aristocrat’s long-term growth strategy and established capital management framework. An update regarding capital management is scheduled to be provided at the company’s Annual General Meeting in February.
“With the completion of the strategic review of our casual and mid-core gaming assets, Aristocrat is well placed to accelerate our refreshed growth strategy. We are deepening management focus and targeting investment behind our core strengths in regulated gaming and gaming-themed content, unlocking new and adjacent opportunities across global markets”, Trevor Croker, Chief Executive Officer and Managing Director of Aristocrat, remarked in the announcement.
Croker added that the review outcomes reflect Aristocrat’s commitment to driving shareholder value through clear strategic choices and growth initiatives.
Aristocrat also highlighted that the transaction is projected to yield a gain in fiscal 2025. Furthermore, following a comprehensive evaluation of options to maximize shareholder value, Aristocrat has decided to restructure its Big Fish Games operations.
Moving forward, Big Fish will concentrate solely on the efficient operation of its existing titles, halting new game development and significantly reducing investment in its portfolio.
With the strategic review concluded, Aristocrat will also retire the Pixel United reporting segment along with its remaining corporate team structure. Effective from the Group’s first-half results reporting for the six months ending March 31st 2025, the Product Madness segment will replace Pixel United, encompassing results from both Product Madness and Big Fish.
Plarium will be classified as a discontinued operation, with its results excluded from the calculation of Net Profit after Tax and Before Amortization of Acquired Intangibles (NPATA).
As part of these organizational changes, Superna Kalle, Aristocrat’s Chief Strategy Officer, will assume executive leadership of Product Madness, in addition to her existing responsibilities in Strategy, Corporate Development, and critical enterprise capabilities such as Transformation and Data.
