NeoGames Amends and Extends by Three Years its Agreement with Caesars Entertainment for the Use of the NeoSphere Platform
April 10 2023 - 4:15PM
NeoGames S.A. (Nasdaq: NGMS) (“NeoGames” or the “Company”), a
technology-driven provider of end-to-end iLottery and iGaming
solutions, announced today that it has amended its license
agreement with an affiliate of Caesars Entertainment, Inc.
(“Caesars”), including an initial three-year extension, followed by
annual renewals unless terminated by either party. Under the
revised agreement, the Company will continue to provide Caesars
with a sublicense to its Player Account Management system, the
NeoSphere platform, and associated services, to be used by Caesars
in operating its successful online sports betting and iGaming
business. In addition, the Company will continue to work with
Caesars to enhance the solution in support of the ongoing growth of
Caesars’ online business. During the term of the agreement the
Company will assist Caesars in transitioning its operations from
the Company’s platform to its own tech platform, where applicable
and as requested by Caesars. As part of the agreement, NeoGames
secured a guaranteed net profit level for the full term of the
agreement.
Moti Malul, Chief Executive Officer of NeoGames, said: “We are
very proud and pleased with our strong ongoing partnership with
Caesars and are excited to keep delivering our market-leading
services to the Caesars team as they continue to develop their
successful online sports betting and iGaming business in the U.S.
We look forward to assisting them with the future growth of their
business.”
“We appreciate the commitment and strong support of
the NeoGames team over the years, and the important role that its
technology plays in the success of our online sports betting and
iGaming business,” said Eric Hession, President of Caesars Digital.
“The NeoGames team offers unparalleled expertise and support, and
we are excited to continue leveraging our partnership with them as
we expand our U.S. online sports betting and iGaming business.”
About NeoGamesNeoGames is a technology-driven
innovator and a global leader of iLottery and iGaming solutions and
services for regulated lotteries and gaming operators. The Company
offers its customers a full-service suite of solutions, including
proprietary technology platforms, two dedicated game studios with
an extensive portfolio of engaging games – one in lottery and one
in casino games, and a range of value-added services. The recent
strategic acquisition of Aspire Global Group enables NeoGames to
offer the most comprehensive portfolio across iLottery, an
innovative sports betting platform from BtoBet, an advanced content
aggregation solution from Pariplay, and a complete set of B2B
Gaming tech and Managed Services. NeoGames remains an instrumental
partner to its customers worldwide, as it works to maximize their
revenue potential through various offerings, including regulation
and compliance, payment processing, risk management, player
relationship management, and player value optimization. NeoGames
strives to be the long-term partner of choice for its customers,
empowering them to deliver enjoyable and profitable programs to
their players, generate more revenue, and maximize proceeds to
governments and good causes.
Forward-looking statement:Certain statements in
this press release may constitute “forward-looking” statements and
information, within the meaning of Section 27A of the Securities
Act of 1933, Section 21E of the Securities Exchange Act of 1934,
and the safe harbor provisions of the U.S. Private Securities
Litigation Reform Act of 1995, including but not limited to
statements, that relate to our current expectations and views of
future events. In some cases, these forward-looking statements can
be identified by words or phrases such as “may,” “will,” “expect,”
“anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,”
“potential,” “continue,” “is/are likely to” or other similar
expressions. These forward-looking statements are subject to risks,
uncertainties, and assumptions, some of which are beyond our
control. In addition, these forward-looking statements reflect our
current views with respect to future events and are not a guarantee
of future performance. Actual outcomes may differ materially from
the information contained in the forward-looking statements as a
result of a number of factors including, without limitation the
risk factors set forth in Item 3.D. “Key Information-Risk Factors”
in our annual report on Form 20-F for the year ended December 31,
2021, filed with the Securities and Exchange Commission on April
14, 2022, and other documents filed with or furnished to the SEC.
These statements reflect management’s current expectations
regarding future events and operating performance and speak only as
of the date of this press release. You should not put undue
reliance on any forward-looking statements. Although we believe
that the expectations reflected in the forward-looking statements
are reasonable, we cannot guarantee that future results, levels of
activity, performance and events and circumstances reflected in the
forward-looking statements will be achieved or will occur. Except
as required by applicable law, we undertake no obligation to update
or revise publicly any forward-looking statements, whether as a
result of new information, future events or otherwise, after the
date on which the statements are made or to reflect the occurrence
of unanticipated events.
Contacts Investor
Contact: ir@neogames.comMedia Relations:pr@neogames.com
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