Aristocrat Leisure Limited, the gigantic Australian manufacturer of slot machines and online casino games, has announced that its proposed acquisition of NeoGames has gone one step further.
The shareholders of NeoGames had their say and their votes went overwhelmingly in favor of the acquisition by the Australian company. Investors which are holding 86 percent of the outstanding shares of NeoGames cast their votes and over 99 percent of them approved the deal.
However, that was just the first shareholder vote, there will be another one required before the deal can proceed. If the proposal goes through, then NeoGames will have to transfer its registered office, statutory seat and seat of central administration from Luxembourg to the Cayman Islands. Then a subsidiary of Aristocrat Leisure Limited will merge with NeoGames and the resulting company will become a new subsidiary of Aristocrat.
The second shareholder vote has to approve the aforementioned merger and in order for the deal to go through at least 66.7 percent of the votes have to be in favor of the proposal.
The offer from Aristocrat was first announced in May, when the Australian company explained it had agreed to pay 1.2 billion dollars to take over NeoGames, a powerful developer of slot games for online casinos. The proposal had immediately received the unanimous approval of the NeoGames board of directors, and with all necessary regulatory approvals, the two companies hope to complete the deal in the first year of the 2024 fiscal year.