Aristocrat Leisure subsidiary Pixel United Holdings has entered into a binding agreement for the sale of Plarium Global for US$620m to Modern Times Group.
Following the strategic review announced in May 2024, the divestment of Plarium is an important milestone for Aristocrat as it focuses on growth across its regulated gaming strength in core land-based gaming, real money gaming and social casino opportunities.
The total consideration for the sale comprises fixed consideration of US$620m and contingent consideration of up to US$200m subject to the achievement of certain financial targets from 2025 to 2028.
Proceeds from the transaction will be deployed to fund Aristocrat's longer term growth strategy in line with its capital allocation framework. The transaction is expected to enhance Aristocrat’s revenue growth rate and margins going forward.
Aristocrat’s CEO and managing director, Trevor Croker, said: "The sale of Plarium follows a strategic review into our casual and mid-core gaming assets that we announced in May 2024.
"With the expanded Aristocrat Interactive business now sitting alongside Aristocrat Gaming and our market leading mobile social casino business, we are increasingly focused on opportunities to lean into Aristocrat’s strengths in regulated gaming content and social slots."
