Aristocrat Leisure Limited, the pioneering Australian manufacturer of gambling machines, announced on May 15, 2023, its planned acquisition of Neo Group, the entity formerly identified as NeoGames SA. The completion of this historic acquisition occurred nearly a year later, marked by a purchase of all outstanding shares at $29.50 each, culminating in an all-cash transaction valued at around $1.2 billion. This strategic move came on the heels of receiving the green light from various regulatory authorities, including the Nevada Gaming Commission. Moti Malul, the CEO of Neo Group, heralded the deal as beneficial for stakeholders including shareholders, customers, and employees, and praised the collective support and talent that drove the company’s achievements. In conjunction to this, Aristocrat is concurrently engaged in a legal skirmish with competitor Light & Wonder over alleged intellectual property infringements related to its Dragon Link series. This legal battle emerges despite scholarly perspectives suggesting a tough path ahead for Aristocrat, and steadfast denials of misconduct from Light & Wonder.

Gaming and Casinos, Intellectual Property Law,Australia, Nevada, United States