Updated May 18, 2023 - 1:48 am
The Nevada Gaming Control Board on Wednesday unanimously recommended approval of a complex licensing request from a gaming technology company founded in Luxemburg and based in Israel.
NeoGames Systems Ltd., which is contracted with Caesars Entertainment Inc. to provide technology for its iGaming and sports wagering businesses, also provides technological support for lotteries worldwide.
The board, in a special meeting, unanimously recommended approval of the licensing of the corporate entities as well as the individual officers of the company. Final approval of licensing is expected Thursday by the Nevada Gaming Commission.
Control Board Chairman Kirk Hendrick said the back-to-back dates for the applicants’ hearings was planned to prevent them from having to make multiple trips to Las Vegas for hearings. The board and the commission usually meet 15 days apart.
“We understand that with a lot of people traveling internationally and trying to get everybody together is not easy so we’re happy to accommodate and it certainly makes it easier for you all to be here tomorrow for the commission meeting,” Hendrick said at the close of the hearing. “We’re happy to do that and happy to do our part for the carbon footprint of the planet as well.”
During 90 minutes of testimony — some of it in Hebrew — NeoGames’ executives told board members its technology platform would be incorporated into the Caesars and William Hill sports wagering system and currently is being lab-tested in advance of a field test.
NeoGames is publicly traded on the Nasdaq exchange. On Wednesday, its shares were up 16 cents to $27.32 a share on volume more than three times the daily average.
The NeoGames application is somewhat complicated by the company announcing Saturday that it is being acquired by Aristocrat Leisure Ltd. of Australia for $1.2 billion.
NeoGames will emerge as a wholly owned subsidiary of Aristocrat when the transaction closes in 12 months.
Regulators had no concerns about the company’s licensing request and said the several officers and executives that were questioned for their roles as manufacturers, officers, directors and key employees had exemplary records.