Aristocrat Leisure (ASX:ALL), a global leader in entertainment and gaming content, has announced the sale of its mobile gaming subsidiary, Plarium Global, to Sweden’s Modern Times Group for up to US$820m.
Known for its electronic gaming machines and digital gaming platforms, Aristocrat operates across three main sectors: land-based gaming, mobile game publishing, and regulated online real-money gaming.
Plarium, acquired by Aristocrat in 2017, is a mobile game developer recognised for popular titles like “Raid: Shadow Legends” and “Vikings: War of Clans”. Under the terms of the deal, Aristocrat will receive a fixed US$620m, with an additional US$200m contingent on Plarium achieving certain performance targets between 2025 and 2028. The company contributed approximately US$615m in revenue to Aristocrat’s Pixel United division in the year ending 30 September 2024.
This move follows Aristocrat’s strategic review of its casual and mid-core gaming assets, initiated in May 2024. Aristocrat’s CEO, Trevor Croker, commented on the divestment, stating, “The sale of Plarium allows us to lean further into our core strengths in regulated gaming content and social slots.”
The transaction is expected to close in the first half of 2025, subject to regulatory approvals.
Additionally, Aristocrat continues its review of another gaming subsidiary, Big Fish Games, with a potential goodwill impairment charge of US$110m expected in its FY24 results.