Novomatic gets January green light for Ainsworth acquisition

Novomatic gets January green light for Ainsworth acquisition

Monday, December 18, 2017 Posted by Luke Massey
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Novomatic will acquire a 52% stake in the Australian company

The acquisition of Ainsworth Game Technology by Novomatic AG is set to be concluded on 5 January, almost two years after the deal was first announced.

Novomatic chairman and chief executive Harald Neumann confirmed the deal in a press release on Friday (15 December), while Ainsworth had already confirmed in a previous day filing that all required regulatory approvals had been received.

Back in February 2016, Len Ainsworth agreed to sell his majority stake in the company to Novomatic AG, a privately-owned Austria-based gaming technology company.

By the summer of last year, Novomatic was granted the right to acquire a 52% stake in the Australian slot machine maker, a total of 172.1 million shares, for an estimated A$470 million.

Having described the deal as “strategically very important”, Neumann said that Novomatic plans to use it to increase market share in the United States to about 10% over the next five years.

“The approval involved intense scrutiny from multiple gaming boards, including in Australia, South America and the United States,” he added. “Novomatic is now one of the few internationally active companies to have passed strict compliance checks from these international authorities.”

Totally Gaming says: It has been reported that the pace of the deal had been slowed by Ainsworth's licensing as a gaming equipment supplier in US jurisdictions. However, the green light has now been given for Novomatic to close the investment, the largest an Austrian company has ever made in Australia, to increase its market share across the pond.

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