Aristocrat completes $1.2bn acquisition of NeoGames and launches Aristocrat Interactive
ASX-listed firm finalises deal and combines business with existing Anaxi arm to create new internal division as bosses praise “build and buy strategy”
Aristocrat has completed its $1.2bn (£960m) acquisition of NeoGames and has revealed it will merge the business with its Anaxi division to create Aristocrat Interactive.
The deal was announced in May last year and was given full backing by NeoGames shareholders at a meeting held yesterday, 25 April.
Last week, NeoGames confirmed it had been given the final regulatory approvals required ahead of the acquisition.
Aristocrat said the move to bring NeoGames into the business formed part of its “build and buy strategy” that the group plans to use to position itself to “compete in attractive online real-money gaming verticals globally”.
Following the completion of the acquisition, NeoGames will be combined with Aristocrat’s real-money gaming division, Anaxi, to form one singular entity – Aristocrat Interactive.
Anaxi was launched in February 2022 as Aristocrat looked to expand out of its traditional land-based operations.
Aristocrat bolstered its Anaxi arm after acquiring Roxor Gaming from LiveScore Group in February 2023, with management stating they were committed to building out the real-money gaming division in due course.
Aristocrat Interactive, which the ASX-listed firm said would bring together “diverse teams under a shared banner” will be led by NeoGames CEO Moti Malul.
Malul will report directly to Aristocrat CEO Trevor Croker and will join Aristocrat’s executive leadership team.
Malul will replace Mitchell Bowen as CEO of the division, with the exec stepping down with immediate effect.
Bowen will continue to assist Aristocrat in an advisory capacity until the end of the year. He will depart the firm after more than 14 years of service, having become Anaxi CEO in March 2022 alongside his position as chief transformation officer.
On completing the deal, Croker commented: “We’re thrilled to welcome NeoGames to Aristocrat. The acquisition of NeoGames and its leading global online real-money gaming platform adds to our increasing organic capabilities and will ensure that we deliver on our strategy by providing a portfolio of end-to-end solutions for igaming, ilottery and online sports betting operators globally.
“I also congratulate Moti Malul on his appointment as CEO of Aristocrat Interactive, and also welcome NeoGames’ talented leaders and broader team of 1,200 people around the world to our business.
“Moti has worked closely with many of our leaders over the past 12 months through the successful acquisition and integration planning process and will transition seamlessly into his expanded role,” he added.
Following the acquisition, Aristocrat will be adopting a revised reporting structure for the six-month period to 31 March 2024 to better align with its strategy, management structure and growth expectations.
From H1 2024, the supplier’s performance will be reported under three segments: Aristocrat Gaming, Pixel United and Aristocrat Interactive.
The supplier confirmed that it will publish its results for the first half of the fiscal year 2024 on 16 May 2024.