NeoGames names Gil as new CFO

Gil will replace Raviv Adler, who is stepping down with effect from 31 July to pursue another opportunity.

An experienced executive, Gil joins NeoGames having served as chief financial officer at Aspire Global since July 2016. Prior to this, he was CFO at GoNet Systems and combined the roles of vice-president and CFO at IXI Mobile.

In addition, he spent time at financial controller at both MTS and Netcom Group, as well as audit team manager at Ernst & Young Israel.

“Motti has been with the company for seven years with much of that time spent as the CFO of the publicly listed Aspire Global Group prior to the merger last year,” NeoGames’ chief executive Moti Malul said. “He has continually demonstrated exceptional financial acumen and leadership skills throughout his tenure. 

“He remains instrumental in overseeing critical financial operations and has strong relationships with key stakeholders. Motti is the ideal candidate to step into this role at this time.”

Malul also paid tribute to the outgoing Adler, saying he had had an “immense” impact on the business.

“His unwavering dedication, strategic insights and exceptional leadership have been instrumental in shaping our company and delivering value for shareholders,” Malul said.

“We are genuinely thrilled for Raviv as he embarks upon a new opportunity and wish him all the best.”

Aristocrat to acquire NeoGames

The appointment comes after last month’s announcement that Aristocrat is to acquire NeoGames for $1.20bn (£942.7m/€1.10bn).

Should the deal proceed, NeoGames will transfer its statutory seat, registered office and seat of central administration from Luxembourg to the Cayman Islands. 

An Aristocrat subsidiary would then merge with NeoGames, with the latter being the surviving company, and become a wholly owned subsidiary of Aristocrat.

NeoGames’ board unanimously approved the deal while shareholders, who hold 20,382,242 shares, representing approximately 61% of NeoGames’ holding, also executed a support agreement with Aristocrat to vote in favour of the transaction.

Subject to customary closing conditions, the acquisition is expected to close within 12 months.