NOVOMATIC has completed investment in Ainsworth, an Australian gaming supplier, following approval from regulatory authorities, including the Nevada Gaming Commission.
All the necessary international regulatory confirmations are in place, the company said, allowing NOVOMATIC to move ahead with the purchase of approximately 52 percent of Ainsworth Game Technology Limited.
“Our shares in Ainsworth are strategically very important for NOVOMATIC,” Harald Neumann, NOVOMATIC chairman, said.
“After all, the joint plan is 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.”
The process involved regulatory approval from multiple gaming jurisdictions, including in Australia, South America and the US.
Given the completion of the sale, Len Ainsworth resigned as an executive director of AGT. He will continue to support the company as a consultant for one year.
The purchase of shares in AGT at over E300m is, to date, the largest investment an Austrian company has ever made in Australia.