NeoGames has announced today that its shareholders have voted to approve its acquisition by Aristocrat.
Over 99% of the outstanding shares of the corporation were cast in the vote, which involved about 86% of the total number of shares. This shareholder approval is the first of two that are necessary to complete Aristocrat's proposed acquisition of NeoGames.
The continuation is subject to meeting several requirements, such as receiving the necessary gaming, antitrust and foreign investment regulatory licences.
This will include consent from the company's shareholders holding at least 66.7% of the shares entitled to vote and present or be represented at a second shareholder meeting.
Meanwhile, the proposed transaction is scheduled to be completed within the first part of the fiscal year 2024 thanks to the partnership between Aristocrat and NeoGames.
In May 2023, the initial deal was announced, with Aristocrat announcing a price of for $29.50 per share in cash, which values NeoGames at $1.2bn.
Further, in June, Motti Gil was announced as the new CFO of NeoGames. Gil’s new role will be effective 1 August 2023.
