Lottery and online gaming provider NeoGames sets terms for $ 72 million IPO

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NOTeoGames, which provides online gaming technologies and services to lottery operators, announced the terms of its IPO on Thursday.

The Tel Aviv, Israel-based company plans to raise $ 72 million by offering 4.8 million shares (45% insider) at a price range of $ 14 to $ 16. In the middle of the proposed range, NeoGames would have a fully diluted market value of $ 392 million.

Neo Games is a technology-driven company that believes itself to be an innovator in the lottery industry. As a global provider of B2G and B2B technologies and services for state lotteries and other lottery operators in Europe and North America, the company offers a full service solution with all the elements required to deliver lottery games. This includes technological platforms, a range of value-added services and a games studio with a large portfolio of games.

NeoGames was founded in 2005 and reported sales of $ 44 million for the 12 months ended September 30, 2020. It expects to be listed on Nasdaq under the symbol NGMS. Stifel, Macquarie Capital and Truist Securities are the associated bookkeepers in the transaction. Its price is expected during the week of November 16, 2020.

The NeoGames article, a lottery and online gaming provider, sets the conditions for a $ 72 million IPO.

Disclosure of investments: The information and opinions expressed in this document have been prepared by Renaissance Capital research analysts and do not constitute an offer to buy or sell any securities. Renaissance Capital’s Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS) or separately managed institutional accounts may have investments in securities of the companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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