Aristocrat Completes NeoGames Acquisition, Reveals Aristocrat Interactive

Article by : Milena Petrovska May 2, 2024

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Aristocrat has officially announced that it has completed the acquisition of NeoGames. The proposal, which dates back to May 2023, has been supported by a majority of NeoGames’ shareholders.

With this development, Aristocrat moves one step forward in its “build and buy” strategy and further advances the company as a leading real-money gaming company worldwide.

The operations of NeoGames and Anaxi will be combined into one vertical: Aristocrat Interactive. In the official statement, Aristocrat also noted that it’ll adopt a new segment reporting structure for NeoGames in the six months leading to March 31, 2024.

This plan is part of the company’s target to align NeoGames’ operations with Aristocrat’s strategy. Several structural rearrangements will also take place to leverage Aristocrat’s strength on a global level.

NeoGames’ CEO Will Act as CEO of Aristocrat Interactive

Aristocrat reports that Moti Malul, the CEO of NeoGames, will act as the CEO of the newly formed Aristocrat Interactive division. This is no surprise, considering Malul has 15 years of experience in the iGaming field.

He played a key role in the growth of NeoGames’ iLottery section and was one of the most important factors in the company’s M&A process, which saw NeoGames become a NASDAQ-listed company. According to Aristocrat, Malul will report directly to Trevor Cooker, the CEO of Aristocrat Leisure Ltd.

However, Anaxi’s CEO, Mitchell Bowen, will step down from his executive role, effective immediately. Bowen will continue to work with Aristocrat in an advisory manner.

Cooker Delighted to Work with Malul, Thanked Bowel for His Contribution

While speaking about the acquisition, Cooker said that he was “thrilled to welcome NeoGames to Aristocrat.” The latest development added to Aristocrat’s organic growth on a global scale, and Cooker additionally said that the NeoGames purchase got the company one step closer to becoming a global leader.

While discussing the new structural changes, Cooker congratulated Malul on his appointment as CEO of Aristocrat Interactive. He also welcomed over 1,200 talented leaders and workers from NeoGames to the business.

Cooker also noted that Malul had been working closely with Aristocrat in the past year, which made him certain that Malul would “transition seamlessly into his expanded role.”

Finally, Cooker thanked Bowen for his outstanding contribution to Aristocrat over the past twenty years. He reminisced about Bowen’s work during that time and noted that he was happy to have him as an advisor in the coming period.

Both Companies Had Leadership Changes

In recent times, both NeoGames and Aristocrat have experienced several changes in leadership roles. In mid-April, NeoGames announced that it would appoint Christopher Shaban as the new managing director of its iLottery vertical.

His appointment was effective immediately. In his new role, Shaban oversees all global iLottery activities, including customer growth, the expansion of the iLottery solution, and NeoGames Studio (the in-house game studio).

Aristocrat, on the other hand, appointed Matthew Primmer as the new chief product officer. Primmer will report directly to Cooker and has over twenty years of experience, half of which is at Aristocrat.

The company also reported in mid-February that Jennifer Aument has resigned as a non-executive director, effective immediately. Neil Chatfield, the chairman of Aristocrat, stated that he was disappointed to see Aument go, but he thanked her for all of her contributions since her appointment in April 2023.

Now, both brands have merged with fresh dedication and strength to achieve new milestones and goals. It remains to be seen how Aristocrat Interactive will position itself in the competitive market and what it will bring to consumers.