Nearly 20 months after Aristocrat completed its acquisition of online gaming operator NeoGames for $962 million, a company executive said the integration has gone well and outlined its recent takeover of live-streaming operator Awager. Aristocrat’s acquisition of NeoGames in April 2024 has given Aristocrat an entry into the ilottery market and paved the way for further penetration in online-gaming verticals.
Tracey Elkerton, Aristocrat’s chief compliance officer and director of many of the group’s subsidiaries, including Aristocrat Technology Gaming Systems, the entity acquiring NeoGames, is scheduled to appear before the Nevada Gaming Commission Thursday as part of an application for continuous transfers of interest between Aristocrat Leisure Limited and Aristocrat Technology Gaming Systems. The latest application includes additional entities within the group, including NeoGames.
Last week, Elkerton gave the Nevada Gaming Control Board an update about Aristocrat acquiring Awager in November from funds managed by Oaktree Capital Management for an undisclosed sum. Awager is a leading provider in the fast-emerging and regulated live slot streaming segment. It offers gaming operators a new digital channel to engage and entertain players, delivering a real-time casino gameplay experience and leveraging a portfolio of third-party content.
“We funded that acquisition through a temporary internal loan from cash on hand, which was held by our Nevada licensee, Aristocrat Technologies Inc.,” Elkerton said. “This approval will allow us to transition from temporary funding to a permanent equity-based structure and to achieve this we are seeking approval for ATGS to issue new shares to its parent Aristocrat Leisure Limited. This will provide funding into ATGS, which it then can use to replace the current internal loan structure that we have in place with more permanent capital. We expect to issue the new shares in the coming few weeks.”
Aristocrat said that thanks to innovative technology and exclusive distribution agreements with top igaming platforms, the Israeli-based Awager is already the market leader in the U.S., with significant scope for growth with the benefit of premium Aristocrat content and distribution networks, post-acquisition. It has 75 employees in Israel, Eastern Europe, and the U.S.
Since the acquisition of NeoGames, Elkerton said they’ve been working to bring the NeoGames business into the Aristocrat organization, focusing on strengthening their interactive portfolio, while maintaining the highest standards of regulatory and technical compliance. “That has been important to us over the past 15 months,” Elkerton said.
The integration was structured around three priority areas, starting with aligning leadership, governance, and reporting structures. It implemented a unified leadership model across the combined organizations. “As part of this process, then-CEO Moti Malul left the organization and was replaced by Dylan Slaney and Dylan commenced with us earlier last month,” Elkerton said.
Slaney is the former CEO of igaming at Light & Wonder.
“He brings more than 10 years of experience in the global igaming sector,” Elkertson said. “We’re very happy to have Dylan on board with us.”
A second priority was harmonizing systems and operational processes and Elkerton said they’ve made good progress on consolidating their core platform systems, including the integration of financial systems over the last month.
The final priority was maintaining continuity of service to customers and partners, with a focus on ensuring they continue to receive the same level of service and support throughout the transition.
“We completed all material integration activities that were planned for the first year following the acquisition and that includes integrating the entire compliance team, products, regulatory and licensing. All were integrated within the first 90 days of completing that transaction.”
What’s remaining is related to long-term migration and commercial optimization initiatives that will continue through 2026.
“Overall, I would say we’re satisfied with the progress of the integration and with the strength and capability the Neo team has brought to our interactive business, which has been great,” Elkerton said.
Aristocrat has expanded its global compliance team to 120 people over the past year, Elkerton said.
