Australia-listed slot machine manufacturer and online gaming content provider Aristocrat Leisure Ltd has announced an agreement to acquire Awager Ltd, a live slot streaming firm, from funds managed by Oaktree Capital Management LP. The financial terms of the deal were not disclosed, and the acquisition remains subject to regulatory pre-approvals, with a closing expected in the coming months.
Awager specializes in live slot streaming, offering operators a digital channel to deliver real-time casino gameplay. The company leverages a portfolio of third-party content and maintains exclusive distribution agreements with major iGaming platforms, positioning itself as a market leader in the United States.
“The acquisition of Awager will bring new capabilities in line with our strategy,” Aristocrat said in its announcement. The company highlighted the “significant scope for growth” post-acquisition, leveraging Aristocrat’s content library and distribution network.
Real-Time Slot Innovation
Awager provides an omnichannel platform that enables players to wager and stream gameplay simultaneously. Warren Steven, Awager’s General Manager for North America, explained the technology earlier this year: “It’s an innovation that is utilizing streaming technology, or what we call remote control, where players who are apprehensive about playing a digital slot machine and what it represents can come in and actually play a physical device. We basically remote control a device, and whether they’re sitting at the machine or sitting at home playing on that same machine on the property, it’s the same trust factors.”
This approach allows players to engage with physical machines virtually, combining the convenience of online gaming with the familiarity of traditional slot play.
Expansion into North America
The acquisition strengthens Awager’s footprint in the United States, where it has focused on new market entry. Following the hiring of Steven in 2024, the company established a studio in New Jersey featuring more than 100 machines through a partnership with FanDuel. Steven emphasized the strategic approach: “We have big ambitions. Just like the live dealer studios or in all major states we intend to be in, but it starts with being successful in New Jersey. If you can be successful there, you can probably be successful in the rest of the United States as well.”
Founded by industry veterans from 888 Holdings, Awager employs around 75 staff across Israel, Eastern Europe, and North America, combining technical expertise with operational experience in live and digital casino gaming.
Aristocrat Strengthens Digital Gaming Division
The acquisition aligns with Aristocrat’s push into digital gaming. Last year, it launched Aristocrat Interactive, consolidating brands such as Anaxi and NeoGames under a single business unit for online casino and iLottery solutions. Led by former Light & Wonder executive Dylan Slaney, Aristocrat Interactive has already secured contracts with the Michigan Lottery and Massachusetts State Lottery Commission.
For the six months ending March 31, Aristocrat reported revenue of AUD3.03 billion (US$1.99 billion), up 8.7% year-on-year, with a statutory interim net profit after tax and before amortisation of acquired intangibles (NPATA) of AUD578.7 million, down 15.1% from the previous year.
The acquisition of Awager is anticipated to close by 2026. UBS is advising Aristocrat, while Moelis & Company represents Oaktree Capital in the transaction.
Source:
“Aristocrat announces agreement to acquire Awager Ltd”, aristocrat.com, October 8, 2025
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