ONLINE NEWS
NeoGames enters into acquisition agreement
NeoGames has entered into a definitive Business Combination Agreement to be acquired by Aristocrat Leisure Limited, an entertainment and content creation company delivering world-leading mobile and casino games, for $29.50 per share in an all-cash transaction, representing an enterprise value of approximately $1.2 billion for NeoGames. The transaction price represents a premium of approximately 104% over the volume weighted average price of NeoGames’ shares for the 3 months ending on May 12, 2023, the last trading day prior to the announcement of the Agreement.
“The NeoGames team has built a great company with a strong platform and differentiated assets and we are pleased that Aristocrat recognizes the value we’ve created as a leader across iLottery, iGaming and online sports betting,” said John E. Taylor, Jr., chairman of the Board of Directors of NeoGames. “After careful consideration, the Board determined that Aristocrat’s proposal provides shareholders with compelling value, further validating the strength of the business that NeoGames has built. We are pleased to have reached this agreement, which we believe benefits all of NeoGames’ shareholders as well as our various stakeholders.”
Moti Malul, CEO of NeoGames, said: “I am tremendously proud of our entire team at NeoGames, as together we have established our leadership position, driving our success across iLottery, iGaming, and online sports betting. We are delighted that the team at Aristocrat recognizes the significance of what we have built, and the strategic opportunity to combine our complementary businesses. We firmly believe that this Transaction represents a great outcome for all of NeoGames’ shareholders, customers and employees.”
Under the terms of the Agreement, NeoGames has agreed to transfer its statutory seat, registered office and seat of central administration from Luxembourg to the Cayman Islands and, as promptly as practicable thereafter, a wholly owned subsidiary of Aristocrat will merge with and into NeoGames, with NeoGames being the surviving company and a wholly owned subsidiary of Aristocrat.
The Board of Directors of NeoGames unanimously approved the Agreement and has recommended the Transaction. Following the consummation of the merger, all outstanding ordinary shares of NeoGames will be cancelled and converted into the right to receive $29.50 per share in cash and NeoGames will become a privately-held company and no longer be listed on any public market.
Completion of the Transaction is expected to occur within 12 months, and is contingent upon customary closing conditions, including receipt of regulatory approvals and the approval of NeoGames’ shareholders. NeoGames shareholders who hold a total of approximately 20,382,242 shares, representing approximately 61% of NeoGames’ outstanding shares, have executed a support agreement with Aristocrat pursuant to which they have irrevocably agreed to vote in favor of the Transaction.
Stifel is acting as NeoGames’ financial advisor and Latham & Watkins LLP and Herzog Fox & Neeman are acting as legal counsel to NeoGames.
Spinomenal secures Swedish B2B supplier permit
Spinomenal has successfully secured its Swedish B2B suppliers permit from the Swedish Gambling Authority (SGA).
The Spelinspektionen awarded Spinomenal with its latest European permit, which means Swedish casino players will be able to keep on gaining seamless access to its richly populated games catalogue.
Among the standout titles that are available from Spinomenal in the Swedish market are popular hits Lucky Jack - Dagger Of Destiny, Majestic King and Book of Rampage. An added bonus for Sweden’s iGaming community is that they will also be able to take a journey into
4 JUNE 2023 GIO
Wizard Games appoints new managing director
Wizard Games has appointed Benedict McDonagh as its new managing director, as the studio aims to turbo-charge its progress towards becoming one of the industry’s biggest names. McDonagh, who has 18 years’ experience in the online gambling industry, joins Wizard Games from Green Jade Group, the game development company he co-founded five years ago and at which he was CEO.
Having held roles previously with Mr Green, PokerStars and Betfair, McDonagh links up with Wizard Games as part of the management team headed by Pariplay’s managing director, Adrian Bailey, as it continues to deliver the most value-driven iGaming experiences to operators.
McDonagh takes the helm at Wizard Games at an important stage of the ambitious studio’s growth journey. As the latest senior hire, his appointment follows on from those of Simon Jagdhar as director of game studio and Yoganand Aiyadurai as director of game technology.
Adrian Bailey, managing director at Pariplay, said: “Our studio division Wizard Games continues to make great strides in regulated markets all over the world and this progress is down to the quality of people we are able to bring into the business. Benedict’s vast industry experience will provide great benefits for Wizard Games and we believe he will be a superb addition to the team.”
Spinomenal’s unrivalled Universe concept which pulls together storylines from many of its favourite titles.
Benedict McDonagh added: “Wizard Games has ambitions to make a major splash in regulated markets around the world and I’m delighted to get the chance to be a part of that story. I aim to use all the know-how I have accumulated in my career to take the studio to the next level, so that we can make a real impact with operators and players globally.”
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