NeoGames and Caesars extend deal

Updated:2024-03-21 14:09    Views:142

As part of a new deal extension, that will continue rolling year by year unless either decides to end the partnership, NeoGames will provide Caesars with its Player Account Management System – as well as providing it with its associated services.

Furthermore, NeoGames will help Caesars migrate to its own tech platform – and away from NeoGames’ own – at the request of Caesars. However, NeoGames is guaranteed a net profit level for the remainder of the pair’s agreement.

Moti Malul, CEO of NeoGames, said: “We are very proud and pleased with our strong ongoing partnership with Caesars and are excited to keep delivering our services to the Caesars team as they continue to develop their successful online sports betting and iGaming business in the US. We look forward to assisting them with the future growth of their business.”

Meanwhile, Eric Hession, President of Caesars Digital,Casino games added: “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 US online sports betting and iGaming business.”

Recently, NeoGames saw its Q4 revenue increase by 54% for 2022, totalling $69.2m.

Its net loss of $800,000 was significantly less than the $3.6m from the year before, while adjusted EBITDA was up 129% for 2022 at $18.1m.

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