NeoGames’ M&A strategy bears fruit as multi-product offering lands in Brazil

NeoGames has taken a major step in its 2023 international rollout, launching a sports betting and iLottery product in Brazil in partnership with Intralot de Brasil.

The ‘LotoMinas’ platform has been developed for Loteria Mineira, the official lottery of the second largest Brazilian state of Minas Gerais, and marks two key milestones for the Nasdaq listed gaming tech developer.

Firstly, the agreement represents NeoGames entry into the Brazilian market in support of a local lottery provider, and secondly it is the first time that the group’s Aspire Global and BtoBet holdings have been operating in tandem to drive a launch since the acquisition last year.

Moti Malul, NeoGames CEO, said: “We are excited to announce this truly groundbreaking launch in the Brazilian market, marking the go-live of a state lottery in Brazil with a full iLottery and online sports betting offering. 

“We are proud to partner with such an experienced team at Intralot do Brasil, who understands the local market so well and has built a solid operation and reputation. Together we will provide online lottery and sports betting players in Minas Gerais with a first-class online gaming experience. 

“This deal is another demonstration of how we have brought the benefits of our recent strategic acquisition into play; capitalising on the online sports betting solution from BtoBet and the managed services from Aspire Global. This project truly exemplifies the strategic benefits that the NeoGames group of companies offer.”

Having been acquired by NeoGames in June 2022 for a total consideration of €410m, Aspire Global and by extension the BtoBet sportsbook platform have since played a key role in its new holding company’s growth.

According to NeoGames’ last quarterly trading update, Aspire Global reported revenue growth of 262% to $73.3m (Q3 2021: $20.2m), bolstered by BtoBet securing partnerships with the likes of Mozambique’s SOJOGO.

NeoGames latest venture in Brazil encompasses both Aspire’s CRM and sports risk management platforms coupled with BtoBet’s sports betting solution, including Managed Trading Services. 

The group hopes to build on the existing success of Minas Gerais’ retail lottery and digital keno programme with the addition of a local cloud-based solution backed by NeoSphere, and a suite of 18 NeoGames studio titles.

Sérgio Alvarenga, Intralot do Brasil CEO & Owner, remarked:  “As a market pioneer in the Brazilian lottery market, this partnership with NeoGames, one of the industry’s most innovative iLottery providers, is truly a natural fit. 

“We’re excited to offer our players a comprehensive digital program that will broaden and enhance the range of content and services that we offer them. 

“The new modalities of online instant games and sport betting, and investments in technology are also part of the expansion plan for new states and federal licences. We are confident that this collaboration with NeoGames will advance the lottery.”