Austrian gaming giant, Novomatic, to purchase Australian competitor, Ainsworth.
Let's Get Down to Business, U.S. Style:
Novomatic takes over Ainsworth for a Coin
Hear ye, hear ye! Novomatic AG Group, the renowned gaming behemoth, is sharpening its claws further in the gaming industry. Fancy one dollar? That's all it took 'em to seal the deal with Ainsworth Game Technology. On April 28th, the companies announced a "scheme of arrangement," natch, with all Ainsworth shares to be gobbled up by Novomatic for a measly buck.
Novomatic had already stacked its chips in Ainsworth, owning a cool 52.9% since 2016. And y'all know what they say, old habits die hard. The Ainsworth board, with tails wagging in agreement, gave the deal a thumbs up.
But here's the kicker—the whole shebang ain't gonna go down unless shareholders cast their votes in favor. No sweat, though. Novomatic's deal ain't on the line with no due diligence or regulatory approvals, including the Foreign Investment Review Board approval in Australia.
Stefan Krenn, Novomatic board member with a smile, said, "This acquisition's gonna boost our growth strategy across the Asia-Pacific and U.S. regions. We've been smellin' Ainsworth's biz for some time now, and integratin' it with our operations is a no-brainer."
Krenn sounded real swell when he added, "Welcome to the family, Ainsworth fam, can't wait to grow together."
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Gambling Trivia:
A Designer's DreamAinsworth is a game design dynasty, known for its slots and gaming machines, boasting a "Sharks Alive" and "Mustang Money" range, that tickle the fancy of many a slot lover.
From Down UnderIn the land down under, Ainsworth's headquarters are tucked away, surrounded by kangaroos and gum trees. The company's titles are traditionally popular across the Asia-Pacific region.
Diggin' for GoldWagering on Ainsworth games can lead to a gold rush, with jackpots totalling millions of dollars over the years. Ainsworth has left many a player with stars in their eyes and the sweet taste of victory on their lips.
[1] Business Wire[2] The Star Entertainment Group[3] GGRAsia[4] Reuters[5] Global Custodian
- Novomatic, the gaming powerhouse, has expanded its influence in the industry by acquiring Ainsworth Game Technology for just one dollar per share, as announced on April 28th.
- The acquisition of Ainsworth, a known game design dynasty, by Novomatic is expected to boost its growth strategy across the Asia-Pacific and U.S. regions.
- The deal, which does not require due diligence or regulatory approvals, including the Foreign Investment Review Board approval in Australia, is still subject to approval by Ainsworth shareholders.
- Stefan Krenn, a board member of Novomatic, expressed excitement about the potential integration of Ainsworth's operations into their own and welcomed Ainsworth's team to the company.
