IPOs

Online lottery and gaming provider NeoGames files for a $90 million US IPO

NeoGames, which provides gaming technology and services to lottery operators, filed on Tuesday with the SEC to raise up to $90 million in a US initial public offering.

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

The Luxembourg-based company was founded in 2005 and was spun-off from Aspire Global in 2014. The company booked $44 million in sales for the 12 months ended September 30, 2020 and plans to list on the Nasdaq under the symbol NGMS. NeoGames filed confidentially on September 10, 2020. Stifel, Macquarie Capital and Truist Securities are the joint bookrunners on the deal. No pricing terms were disclosed.

The article Online lottery and gaming provider NeoGames files for a $90 million US IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of 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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