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
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.