Aristocrat acquires NeoGames with office in Kyiv for $1.8B

Australian developer of online games and slot machines Aristocrat Leisure Limited has announced its intention to acquire NeoGames S.A. studio, which has a representative office in Kyiv, as well as open job positions there. The amount of the deal is about $1.8 billion, the official announcement of Aristocrat says.

Details of the deal

Aristocrat announced the proposed acquisition of 100% of NeoGames for a cash price of $29.50 per share. The deal represents a valuation multiple of approximately 15x studio’s Adjusted EBITDA for the twelve months to 31 December 2023.  

The NeoGames board considers the terms of the acquisition to be fair and has recommended that shareholders vote in favor of the deal. NeoGames shareholders who hold a total of approximately 20.4 million shares, representing approximately 61% of the studio’s outstanding shares, have also executed an agreement pursuant to which they will vote in favor of the acquisition.

The acquisition will be funded with existing cash, the announcement says.

About the NeoGames studio 

NeoGames is a global leader in content and technology solutions for the online RMG industry. Its group consists of four complementary online RMG business units, sharing a common technology stack: NeoGames, AspireCore, Pariplay, and BtoBet. The company has about 1,100 staff and more than 200 customers across 50 markets. In particular, it has an office in Ukraine, located in the Gulliver shopping center in Kyiv.

According to its official LinkedIn page, the company is actively hiring people in Ukraine. In particular, there are now vacancies for 2D animator, DevOps engineers, Technical Product Owner, and others.

On May 10, 2023, NeoGames released its financial report for the first quarter of 2023, its revenue was more than $64 million, and for the year it grew by 187%, if we compare it throughout the quarter.