iGaming company NeoGames Completes Acquisition of Aspire Global

iGaming company NeoGames Completes Acquisition of Aspire Global

The acquisition of online casino solution provider Aspire Global by iLottery platform supplier NeoGames was finalized in January. 

99.31% of Aspire Global’s shares were submitted, and the remaining shares will be subject to a forced sale on August 11. The transaction will result in the total merger of the two firms undertaking their businesses in the casino and iGaming sector. The sale is valued at SEK4.3billion ($440.0 million).

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NeoGames

Seamless Merger 

Luxembourg-based NeoGames specializes in the development of online lottery games for state- and federally-regulated lotteries. The organization has a varied portfolio and extensive expertise dealing with international clients. The acceptance time for the transaction has to be extended to June 14 so that the remaining Aspire Global shareholders could approve the acquisition. The independent committee formed to support the transaction encouraged investors to accept NeoGames’s offer of SEK 111.00 ($12.29) per share. NeoGames used around $264 million in cash and approximately 7.6 million newly issued shares to finance the transaction. The acquisition was partly financed by a loan from Blackstone Alternative Credit Advisors LP in the amount of $198 million. Aspire Global is a prominent supplier of iGaming solutions for companies and is established in Malta. Aspire’s platform provides companies with the tools required to operate in the casino and sports betting industries. The firm has offices in eight countries and is licensed in 31 regulated marketplaces across three continents.

Companies to expand global online gaming presence

The merged firm will continue to be managed by Moti Malul as CEO, while NeoGames’ present board of directors will remain in place after the merger. The combination, according to Malul, would enable both platforms to capitalize on fresh prospects. He stated that the merged entity was positioned to become a “leading worldwide supplier of interactive content and unique technologies” and access a $74 billion market. Tsachi Maimon, the current CEO of Aspire, will join NeoGames as the head of its new igaming subsidiary. Maimon was similarly enthusiastic about the merger, claiming that it was “the next logical step” for the firm. He claimed that the two firms will considerably contribute to the success of each other, and that their prior cooperation ventures would foster a positive working atmosphere. The deal will enable NeoGames to dramatically increase its market share, since it will be able to capitalize on Aspire Global’s European and North American market shares. Aspire’s newly-obtained authorization to do business in the Netherlands will definitely be useful as well. The business will be able to provide online lottery, sports betting, and gaming solutions to a larger clientele.

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About Lou De Aguila

Lou Aguila is a contributor to Golden Casino News. For over a decade, Lou has published news and featured articles for some of the most reputable sports betting and online casino sites in the world, including BetNow.UK, VegasOdds, and BWin. Apart from being a hardcore live casino punter, he also covers sports stories in North American leagues from time to time.