LUXEMBOURG - NeoGames S.A. (NASDAQ: NGMS), a provider of iLottery and iGaming solutions, has announced the extension of its contract with the Czech lottery operator SAZKA until the end of 2028. SAZKA, a member of the Allwyn Group, holds a prominent position in several European countries and the United States.
The renewed agreement will allow SAZKA to continue utilizing NeoGames' NeoSphere platform and a wide range of interactive games. Additionally, SAZKA plans to enhance its online gaming services by integrating content aggregation from Pariplay, a subsidiary of NeoGames.
Since the inception of their partnership in 2017, NeoGames has been instrumental in SAZKA's growth, particularly in the online lottery sector. The extension reaffirms their commitment to providing advanced solutions in the iLottery space.
Moti Malul, CEO of NeoGames, expressed enthusiasm about the continued collaboration, highlighting SAZKA's significant growth in online lottery channels and the company's role in managing SAZKA's digital activities.
Jan Horyna, Chief iGaming Officer at SAZKA, emphasized the value created for players and the goal of redefining online lottery through their partnership with NeoGames.
NeoGames is recognized for its comprehensive suite of iLottery and iGaming solutions, including technology platforms, game studios, and value-added services. The company's acquisition of Aspire Global Group has expanded its offerings to include sports betting, content aggregation, and B2B gaming tech services.
SAZKA, the largest lottery company in the Czech Republic, is known for its diverse range of games and commitment to responsible gaming. The company is part of the multinational investment group KKCG and is set to become the operator of the UK National Lottery in 2024.
This contract extension is based on a press release statement and reflects the ongoing partnership between NeoGames and SAZKA, aimed at enhancing the lottery experience for customers and driving further growth in the sector.
InvestingPro Insights
As NeoGames S.A. (NASDAQ: NGMS) secures its partnership with SAZKA through 2028, the company's financial metrics and market performance offer additional insights. NeoGames showcases a robust revenue growth of 15.59% over the last twelve months as of Q4 2023, indicating a solid expansion in its financial capacity. This growth is a testament to the company's ability to scale its operations and enhance its offerings in the iLottery and iGaming sectors.
Investors should note that NeoGames is trading near its 52-week high, with the price at 99.97% of this peak, reflecting strong investor confidence in the company's market position and future prospects. The company's market capitalization stands at 978.35 million USD, underscoring its significant presence in the gaming and lottery industry.
Two InvestingPro Tips for NeoGames include the expectation of net income growth this year and analysts’ anticipation of sales growth in the current year. These projections align with the company's strategic initiatives, such as the contract extension with SAZKA, and could suggest a positive outlook for the company's profitability and market share. With the InvestingPro product, users can access a total of 13 additional InvestingPro Tips to gain deeper insights into NeoGames' financial health and investment potential. Interested readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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