Aristocrat Leisure announced that its subsidiary, Pixel United Holdings Limited, has entered into a binding agreement for the sale of Plarium Global Limited for a fixed consideration of US$620 million, with contingent consideration of up to US$200 million to Modern Times Group an international, mobile-first gaming group that offers a wide range of popular game franchises.

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$620 million, comprising US$600 million payable upon closing of the transaction and a deferred payment of US$20 million payable in April 2026; and

contingent consideration of up to US$200 million, subject to the achievement of certain financial targets over calendar years 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.

Acquired in October 2017, Plarium generated an internal rate of return (IRR) in the mid-teens during the period of Aristocrat’s ownership. It provided capability and digital expertise across Aristocrat, diversification of its portfolio through the COVID-19 period and continues Aristocrat’s successful acquisition track record.

Aristocrat’s Chief Executive Officer 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.