Authorities give NOVOMATIC the green light for Ainsworth investment
NOVOMATIC is the first Austrian gaming company to register in Las Vegas, Nevada – the largest Austrian investment in Australia is now ready for launch
Gumpoldskirchen, 15 December 2017 (OTS) – All international regulatory confirmations are in place, allowing NOVOMATIC to move ahead with the acquisition of a 52 percent stake of the Australian gaming industry giant Ainsworth Game Technology Limited (AGT). The formal closing is planned for January 5, 2018. The approval involved intense scrutiny from multiple gaming boards, including in Australia, South America and the US. One of the authorities’ main tasks was to carry out comprehensive compliance checks, not just for NOVOMATIC itself, but also for all owners, Supervisory Board and Executive Board members.
“NOVOMATIC is now one of the few internationally active companies to have passed strict compliance checks from these international authorities. For this reason, a variety of independent licensing boards have said the deal can go ahead,” Harald Neumann, Chairman of the Executive Board at NOVOMATIC, is pleased to report. NOVOMATIC is particularly proud of its successful registration with the Nevada Gaming Control Board in Nevada, US, which required strict testing. NOVOMATIC is now the first Austrian company to register in the gaming metropolis of Las Vegas. Neumann confirms: “The compliance tests carried out as part of this registration were extremely thorough. They included all corporate divisions of NOVOMATIC AG.”
The purchase of shares in AGT at over EUR 300 million is, to date, the largest investment an Austrian company has ever made in Australia. “Our shares in Ainsworth are strategically very important for NOVOMATIC,” added Neumann. After all, the plan is to use this acquisition to increase market share in the US to about 10 percent over the next five years. In the long-term, NOVOMATIC may become the world market leader in the area of gaming technology.
The NOVOMATIC Group is one of the biggest international producers and operators of gaming technologies and employs around 25,000 staff worldwide. Founded by entrepreneur Professor Johann F. Graf in 1980, the Group has locations in 45 countries and exports high-tech electronic gaming equipment and solutions to more than 70 countries. The Group operates more than 260,000 gaming terminals in its some 2,100 plus gaming operations as well as via rental concepts.
Through its numerous international subsidiaries, the NOVOMATIC Group is fully active in all segments of the gaming industry and thus offers a diversified Omni-channel product portfolio to its partners and clients around the world. This product range includes land based gaming products and services, management systems and cash management, online/mobile and social gaming solutions as well as lottery and sports betting solutions together with a range of sophisticated ancillary products and services.