{"id":198279,"date":"2022-01-17T16:41:37","date_gmt":"2022-01-18T00:41:37","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=198279"},"modified":"2022-01-17T17:19:35","modified_gmt":"2022-01-18T01:19:35","slug":"neogames-paying-480m-in-cash-stock-for-aspire-global","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/neogames-paying-480m-in-cash-stock-for-aspire-global\/","title":{"rendered":"NeoGames Offering $480 Million in Cash, Stock to Acquire Aspire Global"},"content":{"rendered":"

NeoGames (NASDAQ:NGMS), a provider of internet lottery services and technology, announced it’s offering $480 million in cash and equity to acquire Aspire Global.<\/p>\n

\"NeoGames\"
NeoGames IPO, highlighted on the Nasdaq in November 2020. The company is buying Aspire Global for $480 million. (Image: NeoGames)<\/figcaption><\/figure>\n

The suitor is offering to purchase Aspire for 111 Swedish krona — $12.29 in cash, based on current exchange rates — and 7.6 million shares in NeoGames stock, which will convert to about a third of an Aspire share.<\/p>\n

The exchange ratio was determined based on a $38.01 per share price for NeoGames and a SEK 111.00 per share price for Aspire Global. Newly issued NeoGames shares will be delivered in the form of Swedish depository receipts,\u201d<\/strong> according to a statement issued by the companies.<\/p><\/blockquote>\n

Two-thirds of Sweden-based Aspire investors are electing to receive up to 100 percent of the shares offered by NeoGames, enabling other investors to select an all-cash option, should they so desire.<\/p>\n

\u201cA committee of independent Aspire Global directors has unanimously recommended to Aspire shareholders to accept the offer and to elect to receive full cash consideration,\u201d according to the statement.<\/p>\n

Deal Marries iLottery, Sports Betting<\/h2>\n

While NeoGames stock has enjoyed some moments in the sun<\/a> since its November 2020 initial public offering (IPO), many investors in the US haven’t awakened to the iLottery opportunity set. Rather, market participants are focusing more intently on online casinos and sports wagering.<\/p>\n

\n

The deal for Aspire solves that conundrum for NeoGames. The Swedish company is a business-to-business technology solutions provider to online sports betting and casino operators. Its partners include well-known operators, such as 888 Holdings, Betfair, Entain, Flutter, and William Hill, among others. In the third quarter, Aspire’s revenue surged 46 percent, while earnings before interest, taxes, depreciation and amortization (EBITDA) jumped 38 percent.<\/p>\n<\/div>\n

NeoGames operates internet lottery games<\/a> in the US, Canada and other markets around the world, making the Aspire acquisition sensible because more clients are looking to blend iLottery with other online gaming offerings \u201cAs lotteries around the world, including some of NeoGames\u2019 existing customers, increasingly converge into other gaming verticals and seek comprehensive turn-key solutions that include iLottery, online sports betting, and iGaming products and services,\u201d <\/strong>said the company.<\/p>\n

NeoGames Expanding Global Reach<\/h2>\n

In the US, Michigan is the buyer’s biggest market, and NeoGames is also operational<\/a> in New Hampshire, North Carolina, and Virginia, and is pursuing iLottery contracts in Alaska, Connecticut, Maryland, Massachusetts, Missouri, Ohio, and Oregon.<\/p>\n

With Aspire, NeoGames significantly expands its global footprint, while not acquiring a heavy dependence on the cost-intensive, hyper-competitive US sports betting market. Rather, Aspire brings to the table iGaming and sports betting operations in high-growth regions, such as Latin America and Africa, to the table.<\/p>\n

Aspire is a rapidly growing company. From 2017 through 2020, its business-to-business revenue notched a compound annual growth rate of 35.7 percent.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

NeoGames (NASDAQ:NGMS), a provider of internet lottery services and technology, announced it’s offering $480 million in cash and equity to acquire Aspire Global. The suitor is offering to purchase Aspire for 111 Swedish krona — $12.29 in cash, based on current exchange rates — and 7.6 million shares in NeoGames stock, which will convert to […]<\/p>\n","protected":false},"author":46,"featured_media":198280,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,32093],"tags":[],"acf":[],"yoast_head":"\nNeoGames Paying $480M In Cash, Stock For Aspire Global<\/title>\n<meta name=\"description\" content=\"NeoGames is boosting its iGaming exposure in $480 million deal for Aspire Global.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/neogames-paying-480m-in-cash-stock-for-aspire-global\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NeoGames Paying $480M In Cash, Stock For Aspire Global\" \/>\n<meta property=\"og:description\" content=\"NeoGames is boosting its iGaming exposure in $480 million deal for Aspire Global.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/neogames-paying-480m-in-cash-stock-for-aspire-global\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-18T00:41:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-18T01:19:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/01\/Neo.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1100\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/neogames-paying-480m-in-cash-stock-for-aspire-global\/\",\"url\":\"https:\/\/www.casino.org\/news\/neogames-paying-480m-in-cash-stock-for-aspire-global\/\",\"name\":\"NeoGames Paying $480M In Cash, Stock For Aspire Global\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/neogames-paying-480m-in-cash-stock-for-aspire-global\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/neogames-paying-480m-in-cash-stock-for-aspire-global\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/01\/Neo.jpg\",\"datePublished\":\"2022-01-18T00:41:37+00:00\",\"dateModified\":\"2022-01-18T01:19:35+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"NeoGames is boosting its iGaming exposure in $480 million deal for Aspire Global.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/neogames-paying-480m-in-cash-stock-for-aspire-global\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/neogames-paying-480m-in-cash-stock-for-aspire-global\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/neogames-paying-480m-in-cash-stock-for-aspire-global\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/01\/Neo.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/01\/Neo.jpg\",\"width\":1100,\"height\":500,\"caption\":\"NeoGames IPO highlighted at the Nasdaq market site in 2020. 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