NeoGames has amended its license agreement with an affiliate of Caesars Entertainment, Inc., including an initial three-year extension, followed by annual renewals unless terminated by either party.
Under the revised agreement, the Company will continue to provide Caesars with a sublicense to its Player Account Management system, the NeoSphere platform, and associated services, to be used by Caesars in operating its successful online sports betting and iGaming business.
In addition, the Company will continue to work with Caesars to enhance the solution in support of the ongoing growth of Caesars’ online business. During the term of the agreement the Company will assist Caesars in transitioning its operations from the Company’s platform to its own tech platform, where applicable and as requested by Caesars. As part of the agreement, NeoGames secured a guaranteed net profit level for the full term of the 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 market-leading services to the Caesars team as they continue to develop their successful online sports betting and iGaming business in the U.S. We look forward to assisting them with the future growth of their business.”
Eric Hession, president of Caesars Digital, 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.”
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