The Nevada Gaming Control Board on Wednesday unanimously recommended approval of a licensing request from Israel-based iLottery and iGaming solutions provider Neo Games. The firm is contracted with Caesars Entertainment to provide technology for its iGaming and sports wagering businesses and also provides technological support for lotteries worldwide.
According to a report by Las Vegas Review-Journal, the board, in a special meeting, unanimously recommended approval of the licensing of the corporate entities as well as the individual officers of the company. The final approval of licensing was expected to close on Thursday by the Nevada Gaming Commission.
The news comes shortly after NeoGames announced that it entered into a definitive agreement to be acquired by Aristocrat for $29.50 per share in an all-cash transaction, representing an enterprise value of approximately $1.2 billion for NeoGames. The NeoGames application has been described as somewhat “complicated” by local media because of the planned takeover.
*Breaking News*
Gaming industry shakeup – NeoGames enters into definitive agreement to be acquired by Aristocrat with the transaction being valued at $1.2 Billion USD.
Details here: https://t.co/Nr3NTMl62o$NGMS pic.twitter.com/ye3s9KPNL7
— NeoGames (@iLottery_NG) May 15, 2023
Control Board Chairman Kirk Hendrick noted that the back-to-back dates for the applicants’ hearings were planned to prevent them from having to make multiple trips to Las Vegas for hearings.
Concluding the hearing, Hendrick said: “We understand that with a lot of people traveling internationally and trying to get everybody together is not easy so we’re happy to accommodate and it certainly makes it easier for you all to be here tomorrow for the commission meeting. We’re happy to do that and happy to do our part for the carbon footprint of the planet as well.”
During 90 minutes of testimony, NeoGames’ executives told board members its technology platform would be incorporated into the Caesars and William Hill sports wagering system and currently is being tested before a field test.
Original article: https://www.yogonet.com/international/news/2023/05/19/67224-nevada-39s-gcb-approves-neo-games-39-licensing-request-firm-to-contract-with-caesars
