Aristocrat Leisure Limited has announced that it has finalized ‘all necessary regulatory pre-approvals’ for its acquisition of iLottery and iGaming solutions provider NeoGames.
The deal, publicized in May of last year, is expected to be worth some $1.2 billion for NeoGames, with a premium of approximately 104 percent on its share price.
In a Friday announcement, Aristocrat furthered that ‘all antitrust and foreign investment regulatory clearances have been received’, noting this is a ‘further step towards completion of the Acquisition’.
The move still requires a final NeoGames shareholder vote, however, set to take place on April 26th.
The group notes that following the vote, ‘completion of the Acquisition (of NeoGames is) expected to occur on or about 26 April 2024’.
Speaking of the acquisition last year, John Taylor, Chairman of the Board of Directors of NeoGames noted that “Aristocrat’s proposal provides shareholders with compelling value, further validating the strength of the business that NeoGames has built.”
As part of the deal, NeoGames will transfer its office from Luxembourg to the Cayman Islands, with a wholly-owned subsidiary of Aristocrat merging with the company and NeoGames being the ‘surviving company and a wholly owned subsidiary of Aristocrat’.
Following the merger, NeoGames will become a privately-held company and will no longer be listed on any public market.
