NeoGames

Company Overview

Snapshot

Founded in January 2005, NeoGames operates with 201–500 employees. The company raised $224 million across two funding rounds. In May 2023, NeoGames was acquired by Aristocrat for an enterprise value of approximately $1.2 billion, marking a significant exit for the iLottery solutions provider.

Business overview

NeoGames is a software and service provider specializing in iLottery solutions, offering a robust and secure platform for managing iLottery operations across all channels. The company provides comprehensive solutions, including a portfolio of cross-platform games, a full back-office platform, and complete player operational services such as 24/7 support, CRM, payment solutions, compliance, security, and marketing. NeoGames serves national and state-regulated lotteries, focusing on delivering enjoyable and profitable iLottery programs while promoting responsible gaming.

Strategic signal

In May 2023, NeoGames was acquired by Australian gaming company Aristocrat in an all-cash transaction valued at approximately $1.2 billion. This acquisition represents a significant consolidation in the iGaming sector, demonstrating Aristocrat's strategic move to expand its presence in the iLottery and iGaming markets and providing a substantial return for NeoGames' shareholders.

Company Intelligence Q&A

What was the most significant recent corporate development for NeoGames?

In May 2023, NeoGames was acquired by Australian gaming company Aristocrat in an all-cash transaction for an enterprise value of approximately $1.2 billion. This represented a premium of about 104% over NeoGames’ shares' volume-weighted average price.

What was NeoGames' valuation at the time of its acquisition?

In May 2023, NeoGames was acquired by Aristocrat for an enterprise value of approximately $1.2 billion.

Did NeoGames make any notable acquisitions prior to its own acquisition?

In June 2022, NeoGames completed the acquisition of Aspire Global plc, a B2B iGaming technology solutions provider. This transaction was funded through a combination of newly issued NeoGames shares and approximately $264 million in cash, with debt financing from Blackstone Alternative Credit Advisors LP.

When did NeoGames go public?

In November 2020, NeoGames announced the pricing of its initial public offering (IPO) of ordinary shares, with shares listed on The Nasdaq Global Market under the ticker symbol NGMS.

What was the purpose of the public offering in September 2021?

In September 2021, NeoGames closed an underwritten public offering of 3,975,947 ordinary shares by a certain shareholder at $36.00 per share, which included the full exercise of the underwriters' option to purchase additional shares. J.P. Morgan and Deutsche Bank Securities acted as joint lead book-running managers for the offering.