Aristocrat announces completion of VGT acquisition

As a result, Aristocrat has announced that the acquisition of VGT is now complete. As previously flagged, VGT will be run as a business unit of Aristocrat, recognizing its success and the benefit of maintaining its focus on outstanding Class II products and customer service.

The company has put in place an interim leadership structure while a rigorous global search for a permanent leader is undertaken. Odell said, “The fact that we have achieved completion of this transaction with no delays speaks to the fact that both VGT and Aristocrat are reputable, high compliance businesses wit constructive regulator relationships. It also demonstrates the level of support for this transaction across both Aristocrat and VGT, and among our customers, which gives me further confidence in its fundamental soundness.

“As I have noted previously, this is a strategically and financially compelling opportunity for both businesses. VGT brings a complementary product offering to Aristocrat and will immediately step change our scale, and significantly accelerate our growth, in the critical US recurring revenue segment.

“The addition of VGT comes at an ideal time for Aristocrat, and will build on the sustained operational momentum we have achieved in our core Class III business, particularly in key US for - sale and recurring revenue segments.

“Importantly, this transaction is highly cash- flow generative. As previously  mentioned, acquired free cash flows will also allow Aristocrat to consider further accretive investments in digital as well as other organic and inorganic opportunities over the medium term to sustain our growth.

“We are delighted to welcome VGT into the Aristocrat family, and look forward to working together to deliver our full potential for the benefit of Aristocrat shareholders, and all of our stakeholders” Odell concluded.

Yogonet.com asked Álvaro Nores, VP Aristocrat for Latin America, in which way would VGT acquisition impact on the structure of both companies in US and Latin America. "It had a positive impact. The acquisition is being completed. VGT will give us more scope and penetration within Class II games. VGT purchase complements very well Aristocrat growth strategy, giving us the possibility to enter in new markets. We are very excited with the new possibilities both in US and in the Latin American region."