The purchase of a majority stake in Ainsworth Game Technology by Austria’s Novomatic Group moved closer to completion after Ainsworth’s shareholders approved the deal at the Australian slot giant’s annual meeting.
The tie-up with Novomatic—a global leader in machine gaming and operations—totaling a 53 percent stake is expected to significantly enhance AGT’s product depth and strengthen it as a competitor in international markets.
Once regulatory and licensing approvals are achieved and the sale consummated, “AGT will benefit from collaboration across a range of markets that will be substantially positive for long-term shareholder wealth creation,” said Novomatic Group CEO Harald Neumann.
Ainsworth Chief Executive Danny Gladstone praised Novomatic as “a highly respected and impressive industry leader.”
“We look forward to progressing this relationship and to execute on our international growth strategy,” he said.
Novomatic’s shopping spree continued in June with the purchase of U.K. machine gaming operator Talarius from Australia’s Tatts Group.
The A$210 million buy gives Novomatic Talarius’ nationwide portfolio of Quicksilver AWP venues, which contributed around 2 percent to Tatts’ overall earnings last year, the Australian gaming and betting operator said. Tatts said it will record a loss of A$50 million on the sale, whose proceeds will be used to pay down debt.