Aristocrat’s acquisition of NeoGames nears completion after receiving final regulatory approval
ASX-listed firm set to purchase supplier for $1.2bn with announcement expected soon after 25 April shareholder meeting
NeoGames has been given final regulatory approval ahead of its acquisition by Aristocrat in the upcoming weeks.
The $1.2bn (£961m) deal was announced in May last year, with NeoGames set to become a privately held company once bought by Australian supplier giant Aristocrat.
The firm also agreed to transfer its statutory seat, registered office and seat of central administration from Luxembourg to the Cayman Islands upon completion.
As the deal edges closer, the business confirmed a final vote will take place at NeoGames’ next shareholder meeting, scheduled for 25 April 2024.
The acquisition is then expected to occur on or about 25 April as well.
A statement from NeoGames read: “All necessary regulatory approvals required for the completion of the business combination with Aristocrat Leisure Limited have been received or waived.
“In addition, all antitrust and foreign investment regulatory clearances have been received. This marks a further step towards completion of the acquisition, before the final NeoGames shareholder vote.
“NeoGames and Aristocrat are continuing to work together to progress the remaining steps required to complete the acquisition.”
In preparation for its purchase by Aristocrat, NeoGames announced the promotion of Christopher Shabhan to managing director 24 hours after subsidiary Aspire Global appointed Jonathan Chilton to the same role.
Prior to its planned acquisition of NeoGames, Aristocrat snapped up Roxor Gaming from LiveScore Group in September 2022.
It had previously failed in an attempt to purchase Playtech in February 2022, with the £2.7bn deal collapsing due to not receiving the 75% proxy votes minimum threshold needed at a shareholder meeting.
The ASX-listed firm also invested in AML platform supplier Kinectify in February.