NeoGames has secured all necessary regulatory approvals for its proposed acquisition by Aristocrat. The Luxembourg-based company, specialising in iGaming and iLottery solutions, stated that all required antitrust and foreign investment regulatory clearances have been either received or waived.
NeoGames and Aristocrat have been actively working together to advance the remaining steps needed to finalise the acquisition process. A final shareholder meeting of NeoGames, scheduled for 25 April 2024, will involve voting on the acquisition, with completion anticipated around the same date.
In recent organisational changes, NeoGames appointed Christopher Shaban as Managing Director of its iLottery business on 17 April 2024. With over 27 years of experience in the global lottery industry, Shaban's appointment is part of NeoGames' preparations for its impending acquisition by Aristocrat.
His responsibilities include driving new business initiatives, fostering customer growth, expanding NeoGames' iLottery solution globally and overseeing NeoGames Studio, the company's in-house game development arm.
Additionally, NeoGames has expanded its market presence through strategic partnerships. A deal with Big Brazil, licensed by Caesars Entertainment and William Hill US, positioned NeoGames to power Big Brazil's platform in the South American market.
The agreement includes providing Player Account Management (PAM) systems, sportsbook solutions, online games and platform services.
However, amidst these developments, legal disputes have arisen in the industry. Aristocrat's reported intention to sue Light & Wonder over alleged game copying adds a layer of complexity to the landscape.
The dispute revolves around similarities between Light & Wonder's Dragon Train game and Aristocrat's Dragon Link, with accusations of misappropriation of trade secrets by former Aristocrat employees.
