Novomatic moves to fully acquire Australia’s Ainsworth Game Technology
Austrian gaming equipment supplier Novomatic AG has announced plans to acquire the remaining shares in Australia-listed slot machine maker Ainsworth Game Technology Ltd. Currently, Novomatic holds a 52.9 percent stake in Ainsworth, a position it secured in 2016 through the purchase of shares from founder Len Ainsworth.
The company now aims to buy the remaining 47.1 percent of Ainsworth’s share capital through a scheme of arrangement, according to a Monday filing by Ainsworth.
Under the , Ainsworth shareholders will receive cash consideration of AUD1.00 (US$0.64) per share. The offer represents a premium of approximately 35 percent to Ainsworth’s closing share price on the Thursday prior to the deal announcement. The cash offer implies an enterprise value of approximately AUD336.5 million for Ainsworth.
Transaction terms and board recommendation
The proposed scheme is subject to limited customary conditions, including approval by Ainsworth shareholders. An independent board committee established by Ainsworth has “unanimously recommended” that shareholders vote in favour of the transaction.
The offer has been declared “best and final” by Novomatic and will not be increased. However, should Ainsworth pay a dividend before completion, the dividend amount will be deducted from the cash consideration.
Commenting on the proposal, Ainsworth’s chairman Daniel Gladstone said, “The proposal put forward by Novomatic… already the majority shareholder of Ainsworth, represents a significant premium to long-term trading value and is compelling for Ainsworth minority shareholders.”
Strategic expansion
Issuing a statement, Novomatic said it expected the transaction to close in the second half of 2025. The offer is not conditional on due diligence or regulatory approvals, with Foreign Investment Review Board approval already secured.
Stefan Krenn, a member of the executive board of Novomatic AG Group, stated: “The acquisition of Ainsworth is consistent with our international growth strategy and the expansion of our presence across the Asia-Pacific and the US region. As a long-term shareholder we are familiar with the business and believe that integrating Ainsworth into our operations is in the best interest of this strategy. We look forward to welcoming the highly qualified and experienced Ainsworth employees into the NOVOMATIC family to become part of our international growth and success.”
Novomatic is advised by J.P. Morgan and King & Wood Mallesons on the transaction, while Ainsworth has engaged Macquarie Capital as its exclusive financial adviser and Clayton Utz as legal advisers.
Novomatic partners with Harvest Gaming
This development comes days after the gaming technology giant has announced a new “strategic distribution partnership” with Singapore-based Harvest Gaming.Under the agreement, Harvest Gaming will distribute Novomatic’s land-based gaming products in Singapore, Malaysia, and Vietnam. The privately-held company, founded in 2007, brings experience and local market knowledge that says will be key to strengthening its position in Southeast Asia. Its new alliance with Harvest Gaming is seen as part of a broader strategy to grow its international footprint.
Novomatic enters UAE gaming market
Earlier this month, Novomatic received a Gaming Related Vendor Licence – Tier 1 in the UAE, issued by the General Commercial Gaming Regulatory Authority. This licence gives the company an entry point into the newly opening market in the Gulf region.
Separately, Novomatic is in the process of acquiring French casino group Viking Casinos. The transaction is subject to regulatory approvals and, if completed, will boost the company’s presence in the European gaming sector.
