NeoGames and Caesars extend online platform deal11th April 2023 10:22 am GMT
New York-listed lottery and iGaming supplier NeoGames will continue to provide its player account management platform to Caesars until at least 2026 under an amended license agreement.
NeoGames’ NeoSphere platform and associated services will continue to underpin Caesars’ online betting and gaming operations under the amended three-year agreement, which includes the option of one-year renewals.
During the term of the agreement, NeoGames will also assist Caesars in transitioning any operations to its own technology platform, as and when required, and will receive a guaranteed net profit level.
“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.,” said Moti Malul, chief executive of NeoGames. “We look forward to assisting them with the future growth of their business.”
Eric Hession, president of Caesars Digital, commented: “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. 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.”
Shares in NeoGames SA (NASDAQ:NGMS) gained 3.83 per cent to close at $15.47 per share in New York Monday.