Aristocrat Leisure, one of the most prominent players in the betting machine sector, has recently revealed the unsettling news of a cyber-attack against the brand. The reported cyber-attack was orchestrated against the company on June 1st, a breach that caused the unauthorized access of employee data and other important information from Aristocrat’s servers.
The technique used by the hackers was classic exploitation of a vulnerability in MOVEit, a 3rd party file sharing software that is utilized by Aristocrat. This method allowed the hackers to gain access to sensitive customer data. To add salt to injury, the hackers went ahead to publish sections of the stolen information publicly online.
In response to this event, Aristocrat acted swiftly to implement countermeasures. The measures included containing the breach, addressing the vulnerability of the 3rd party file sharing software, as well as collaborating with law enforcement and other regulatory authorities. Aristocrat even went as far as offering complimentary credit monitoring and identity theft protection to its members of staff to prevent such an instance from occurring again.
Asserting its commitment to minimizing the effect of the cyberattack on its business, Aristocrat affirmed that its quick response would ensure that any consequences are mitigated. The company has also pledged to remain vigilant in safeguarding the interest and well-being of its stakeholders and employees.
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Aristocrat Business shows resilience amid the attack
Despite the distressing cyber breach, Aristocrat’s primary business has demonstrated remarkable resilience, a fact underscored by its most recent performance report. Based on reports, the first half of 2023 witnessed considerable growth in the brand’s metrics, marking the efficacy of the company’s business strategy.
Undeterred by the cyber-attack, Aristocrat continues to explore avenues for continued expansion. One such pursuit involves the proposed acquisition of NeoGames. According to the Chief Product Officer at Aristocrat Matthew Primmer, the billion-dollar deal with NeoGames will facilitate the brand’s entry into the online casino and online lottery sectors.
Notably, Aristocrat’s acquisition garnered substantial support from NeoGames shareholders, a testament to the strategic alignment and perceived benefits of this acquisition. Additionally, a considerable portion of NeoGames shareholders, holding approximately 61% of the outstanding shares, have pledged their support by executing a support agreement with the Aristocrat.
This unanimous support from shareholders further underscores the confidence in the potential of the strategic deal. Subject to customary closing conditions, which consist of regulatory approvals and consent from shareholders, the acquisition is expected to be finalized mid-next year.
This timeline reflects the meticulous approach both Aristocrat and NeoGames are taking to make sure there is a seamless transition and integration. The rationale behind this acquisition revolves around the complementary strengths of both NeoGames and Aristocrat. NeoGames has cemented its place as a leader in various profitable realms including iGaming, iLottery, as well as sports betting.
This resonates perfectly with Aristoctat’s strategic goal of expanding its offerings in these verticals. According to the CEO and Managing Director of Aristocrat, Trevor Croker, this move couldn’t be more significant for the brand. Croker emphasized that the acquisition of NeoGames and its critically acclaimed online Real Money Gaming platform was a game changer.
Under the terms of the deal, Aristocrat will acquire NeoGames at a considerable premium. The agreed-upon price of $29.50 per share reflects an impressive 104% premium over the volume-weighted average price of NeoGames’ shares for the 3 months leading up to 12th May; the last trading day before the deal.
The acquisition will not just be about the finances but also involve a shift in the legal structure. As part of the deal, NeoGames is expected to transfer its statutory seat, registered office, as well as central administration from Luxembourg to the Cayman Islands. Subsequently, an Aristocrat subsidiary will merge with NeoGames, with the latter emerging as the surviving company and becoming Aristocrat’s wholly operated subsidiary.
As both NeoGames and Aristocrat work to finalize the acquisition, the online casino industry will continue to watch closely, anticipating the birth of a powerhouse that will provide unparalleled solutions for online gambling, iLottery, as well as online sports betting.
Aristocrat also prepares to launch its NFL slot game series
The intersection of sports and gaming continues to evolve with an amazing collaboration between the National Football League and Aristocrat Gaming. The partnership is expected to usher in a new era of entertainment for both NFL fans and gamblers by introducing a series of NFL-themed slots.
This groundbreaking venture not only promises engaging gameplay experiences but is also looking to boost the league’s brand awareness and engagement among both avid sports lovers and casual gamblers. Come the dawn of the 2023 NFL season, casino floors all over the country will come alive with the launch of the NFL Super Bowl jackpots, the first game in the series.
This exciting slot game will be presented on the cutting-edge King Max cabinet, which will ensure that gamblers are treated to both an immersive and rewarding gambling encounter. This newly launched game will not stand alone. Instead, it will be a part of an extensive lineup of titles that will be launched gradually over time.
The launch of these NFL-themed slot machines serves as a great chance for the league to connect with its fan base in a new and unconventional manner. The NFL’s Senior Vice President of Consumer Products, Joe Ruggioro, highlighted this sentiment, emphasizing how this collaboration would enable the league to expand its presence in 2 new verticals or dimensions of the gambling business.
What is expected to draw players to the NFL Super Bowl jackpot game is the chance to vie for a progressive jackpot worth an impressive $1 million. The significant prize is attainable through a blend of captivating gameplay features. Beyond the anticipating surrounding the new game, Aristocrat Gaming and NFL also have ambitious plans to expand the series throughout the year and into 2024.
Final Thoughts
Aristocrat’s move to keep making partnerships and acquire established companies the likes of NeoGames is a strategic leap that displays the brand’s commitment to reshaping the online gambling landscape.
Thanks to the backing of shareholder approval and a carefully planned integration process, this collaboration will likely change the standards of iGaming solutions for years to come. As the global gaming sector keeps evolving, Aristoctat’s resilience and innovative approach will undoubtedly play a vital role in shaping its success and trajectory.
