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NeoGames extends acceptance period to Aspire Global
NeoGames announced it has completed its acquisition offer to Aspire Global International Ltd shareholders. The iGaming concern has also extended the deal’s acceptance period to June 14, 2022. NeoGames submitted its 4,3 billion SEK (673 million NZ$) bid to take over Aspire Global in January of this year.
The acceptance period was initially supposed to end on the 25th of May 2022. The period was later extended to give all of the shareholders the chance to further analyse and accept NeoGames’ offer. The last offer made by NeoGames consists of a combination of cash for half of all Aspire Global shares at a price of SEK111 per share and equity consideration for the remaining half, which would be made up of 7,6 million newly issued NeoGames shares.
45 million Aspire Global shares on offer
On the 25th of May, more than 45 million Aspire Global shares had been tendered in the offer, adding up to a total of 98,2% of Aspire Global shares. The settlement of these shares — where the cash will be exchanged — will now take place on the 14th June. The settlement for shares accumulated between the 25th of May and the 14th of June will now take place on the 30th of June.
Regulatory approvals from Gibraltar and North Macedonia
NeoGames also communicated that regulatory approvals from both the Gibraltar Gambling Commission and the North Macedonia Competition Authority have been received, meaning that the conditions of the offer have been met from the regulator’s point of view. Aspire Global will need to accelerate its incentive programs which means that all outstanding options, warrants and options issued are converted into a maximum number of 828,094 shares. In order to conclude the deal, this needs to be done before the acceptance period ends.
Aspire Global’s CEO, Tsachi Maimon, publicly stated:
The bid by NeoGames is a natural step for Aspire Global and a strategic fit for our company. As part of NeoGames, Aspire will continue to get the most out of its key strengths. Beside the state-of-the-art, technology advanced services, and highly skilled teams, Aspire Global’s most important asset is its long-term commitment to each of its partners. The success of our partners and our ability to support in the fulfilment of their full potential plays a major role. Via strong partnerships with leading online operators and distributors, we will continuously strive for long-term value.”
About Aspire Global International Ltd
Aspire Global International Ltd, often referred to as Aspire Global, is a leading provider of complete iGaming solutions for both online operators and white labels. Founded in 2005, Aspire Global serves some major brands including 888, Kindred Group, William Hill Limited, and Betfair. It also offers its own online casinos like Mr. Play Casino, Trada Casino, and PlayFrank Casino. Aspire Global has over 150 partners located around the world, including Europe, North America, Latin America and Africa.
Earlier this year, Aspire Global reported an all-time company record revenue for the first quarter of 2022 following the sale of its B2C operations. Revenue for the three months of 2022 rose to €46.3 million (96.19 million NZ$), up an impressive 33.4% from €34.7 million in the same period last year.
NeoGames is an international provider of iLottery solutions and services to primarily national and state-regulated lotteries in different countries. In its 15 years of industry experience NeoGames has also entered the online market while it continues to serve land based customers. NeoGames is publicly traded on the Nasdaq stock market under the ticker symbol of NGMS. The company holds offices in Israel and Ukraine.