GGRAsia – Aristocrat wraps buy of NeoGames, launches new RMG unit

Aristocrat wraps buy of NeoGames, launches new RMG unit

Apr 26, 2024 Newsdesk Industry Talk, Latest News, Top of the deck

Australia-based slot-machine maker and game-content provider Aristocrat Leisure Ltd is launching a new unit dedicated to online real money gaming (RMG) operations. The move comes as Aristocrat affirmed the completion of the acquisition of RMG provider NeoGames SA.

“Aristocrat today confirms that all conditions and requirements for closing under its agreement to acquire Neo Group Ltd, formerly known as NeoGames SA have been satisfied and that the acquisition has now [been] completed,” stated the company in a Friday filing to the Australian Securities Exchange.

Aristocrat’s proposal to acquire NeoGames was announced in May last year, with the Australian-based firm agreeing to pay AUD1.80 billion (US$1.17 billion, currently) for NeoGames. The company said at the time that the deal would “deliver on Aristocrat’s online RMG strategy and accelerate growth” in the segment.

Aristocrat has been working to scale up its online RMG segment, having launched in 2022 a RMG division, called ‘Anaxi’. In February last year, the company completed the acquisition of Roxor Gaming Ltd, an online RMG supplier based in London, in the United Kingdom.

“The combined Anaxi and NeoGames operations will be managed as a single, integrated global business going forward under the name Aristocrat Interactive”, announced the parent in its Friday filing.

It added: “This name leverages the strength of Aristocrat as one of the leading global gaming brands, and brings together diverse teams under a shared banner.”

The firm added that Moti Malul, previously chief executive of NeoGames, had been appointed CEO of Aristocrat Interactive, reporting to the parent’s boss, Trevor Croker.

Aristocrat also said Mitchell Bowen, former CEO of Anaxi, was stepping down from his executive role, effective immediately. “Mr Bowen will continue to assist Aristocrat in an advisory capacity through to the end of calendar 2024, supporting the business’ strategic priorities and ensuring a smooth transition,” the firm added.

Friday’s filing quoted Aristocrat CEO Mr Croker as saying that the acquisition of NeoGames added to Aristocrat’s “increasing organic capabilities”, ensuring that the firm delivers on its strategy “by providing a portfolio of end-to-end solutions for iGaming, iLottery and online sports betting operators globally”.

Mr Croker added: “With our ambition to be the leading gaming platform for the regulated online RMG industry, the addition of NeoGames to our team advances our strategy to build global scale and capability.”