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Jerome García May 18, 2023 2 min read
NGCB Recommends NeoGames for Licensing Approval
The unanimous recommendation for licensing comes after recently the company confirmed it is being acquired by the globally-recognized gaming and entertainment company, Aristocrat
Ahead of expanding its presence in a strategic gambling market in the US, Nevada, NeoGames would need to undergo licensing. Based in Israel and founded in Luxemburg, the company is famous for its leading and innovative technology that powers sports betting and iGaming operators.
Under a partnership with Caesars Entertainment, NeoGames agreed to supply its leading technology. Per the agreement, the company would supercharge Caesars’ operations within the sports betting and iGaming vertical. It’s important to mention that NeoGames’ technology has proven its efficiency and is now leveraged by lotteries as well as gambling operators around the globe.
On Wednesday, in a 90-minute testimony in front of the gambling regulator, the Nevada Gaming Control Board (NGCB), executives from NeoGames revealed that the company’s technology would power Caesars’ operations. The C-suite executives told the NGCB that the technology is currently undergoing testing to ensure compliance.
Following the testimony, the gambling regulator unanimously recommended approval of licensing for NeoGames’ individual officers and corporate entities. The licensing recommendation comes during an extraordinary moment for the company. Recently, NeoGames confirmed that it will be acquired by Aristocrat, the leading global gaming technology company. The deal with a $1.2 billion price tag is expected to provide a significant boost for Aristocrat on a global scale.
Meetings Are Scheduled Close Together
Although the recommendation marks a major step ahead, NeoGames is yet to receive its approval for licensing. That approval is expected to be released by the Nevada Gaming Commission Thursday.
“We understand that with a lot of people traveling internationally and trying to get everybody together is not easy. We’re happy to accommodate and it certainly makes it easier for you all to be here tomorrow for the commission meeting. We’re happy to do that and happy to do our part for the carbon footprint of the planet as well.“Kirk Hendrick, chairman of the Nevada Gaming Control Board
Usually, the whole process takes longer and there’s a period of two weeks between the meetings with the NGCB and Nevada Gaming Commission. However, NGCB’s chairman, Kirk Hendrick, explained that closer dates for the meetings were set to ensure less traveling for international members of NeoGames. Hendrick spoke about the environmental benefits of scheduling the meetings close together. Finally, he acknowledged that such a schedule makes the process easier for NeoGames.
Jerome is a welcome new addition to the Gambling News team, bringing years of journalistic experience within the iGaming sector. His interest in the industry begun after he graduated from college where he played in regular local poker tournaments which eventually lead to exposure towards the growing popularity of online poker and casino rooms. Jerome now puts all the knowledge he's accrued to fuel his passion for journalism, providing our team with the latest scoops online.