Investors holding 86% of NeoGames’ outstanding shares voted, with over 99% of votes cast in favour of the deal. The NeoGames shareholder vote was the first of two shareholder approvals required for the deal to proceed.
Should the deal go through, NeoGames will transfer its statutory seat, registered office and seat of central administration from Luxembourg to the Cayman Islands. An Aristocrat subsidiary will merge with NeoGames, with the latter being the surviving company and become a subsidiary of Aristocrat.
This merger agreement is also dependent on a shareholder vote. At least 66.7% must vote in favour of this measure in order for it to go ahead.
Announced in May, Aristocrat agreed to pay US$1.2 billion to take ownership of all shares in NeoGames.
Aristocrat and NeoGames are working together to progress the steps required to complete the proposed acquisition, which is expected to occur during the first half of fiscal year 2024.
Speaking at the time of the original announcement, Aristocrat CEO and managing director Trevor Croker said the combination would present “great opportunities” to both businesses. Working as a single unit, Croker said the combined business can offer a portfolio of end-to-end solutions for igaming, ilottery and online sports betting operators.
“This proposed acquisition builds on the strength and resilience of our business. It expands market opportunities and adds capabilities to unlock our full potential. We remain focused on executing our proven growth strategy and creating long-term value for Aristocrat shareholders.”
NeoGames’ chairman, John E Taylor Jr, added the acquisition proposal provided its own shareholders with “compelling value.”
“We are pleased that Aristocrat recognises the value we’ve created as a leader across ilottery, igaming and online sports betting. The proposal further validates the strength of the business that NeoGames has built.”
NeoGames has also been busy with acquisitions. Last year, it took ownership of Pariplay, Aspire Core, BtoBet and an ilottery division as part of its acquisition of Aspire Global. Tsachi Maimon, president of NeoGames, said each of these brands would benefit from the Aristocrat deal.
Source: GMB / iGB
