LUXEMBOURG - NeoGames S.A (NASDAQ:NGMS), a provider of iGaming and iLottery solutions, announced the appointment of Christopher Shaban as the new Managing Director of its iLottery business unit. The move is part of the company's reorganization efforts in anticipation of its acquisition by Aristocrat, scheduled for the second quarter of 2024.
Shaban, who has over 27 years of experience in the global lottery industry, joined NeoGames in 2021 as EVP Global Business and Customer Development for iLottery. In his new role as Managing Director, effective immediately, he will oversee the global iLottery activities, including new business, customer growth, and the expansion of NeoGames' iLottery solutions. He will also manage NeoGames Studio, the company's in-house game studio.
Moti Malul, CEO of NeoGames, expressed confidence in Shaban's ability to lead the iLottery business, citing his extensive industry experience and respect within the lottery community. Shaban himself expressed enthusiasm for his new role and the opportunity to expand the company's efforts, particularly as they join forces with Aristocrat.
NeoGames is known for its comprehensive suite of iLottery and iGaming solutions, including proprietary technology platforms, game studios, and a range of value-added services. The acquisition of Aspire Global Group has allowed NeoGames to offer a more extensive portfolio, featuring sports betting platforms, content aggregation solutions, and B2B gaming tech.
The company emphasizes its commitment to being a long-term partner for its customers, aiming to maximize revenue potential and support government and charitable contributions through its services.
This announcement contains forward-looking statements regarding the company's future plans and performance, which are subject to risks, uncertainties, and changes in circumstances. The information is based on a press release statement and reflects management's views as of the date of the announcement.
InvestingPro Insights
As NeoGames S.A (NASDAQ:NGMS) gears up for its anticipated acquisition by Aristocrat, the company's financial health and stock performance continue to be areas of interest for investors. According to InvestingPro data, NeoGames has a market capitalization of approximately $996.17 million, reflecting its position within the iGaming and iLottery market space.
Despite challenging market conditions, NeoGames has demonstrated a revenue growth of 15.59% over the last twelve months as of Q4 2023, which aligns with the company's strategic expansion efforts highlighted by the appointment of Christopher Shaban.
InvestingPro Tips suggest that NeoGames is expected to see net income growth this year, with analysts also anticipating sales growth in the current year. This is particularly relevant as Shaban takes the helm of the iLottery business unit, indicating a promising outlook for the company's financial performance.
Moreover, NeoGames operates with a moderate level of debt, which could provide a stable foundation as it moves forward with its acquisition and business reorganization.
Investors should note that NeoGames has been trading near its 52-week high, with a price percentage of 52-week high at 99.66%, and a significant 1-year price total return of 95.15%. This stock performance may reflect investor confidence in the company's growth trajectory and the upcoming integration with Aristocrat.
For those looking to delve deeper into the financial metrics and strategic positioning of NeoGames, more InvestingPro Tips are available, offering a comprehensive analysis of the company's potential. Interested readers can find additional insights by visiting https://www.investing.com/pro/NGMS and can use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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