Gambling company Novomatic intends to completely buy out Ainsworth Game Technology.
Novomatic Takes Control: AUD 336.5M Deal for Ainsworth Game Technology
Get ready, Ainsworth Game Technology shareholders! Novomatic AG, the Austrian gaming equipment supplier, is pulling out all the stops to grab the remaining 47.1% of the Australia-listed slot machine maker it doesn't already own. With a 52.9% stake under its belt, Novomatic is offering a sweety 35% premium over Ainsworth's last closing price, setting the acquisition deal value at around AUD336.5 million.
The two companies have inked a scheme implementation deed, and Novomatic is willing to pay AUD1.00 (US$0.64) in cold, hard cash for every Ainsworth share it doesn't currently own. That's a hefty premium compared to the last closing price and even a substantial 28% higher than the six-month average price as of April 24, 2025. This deal puts Ainsworth in the sights of investors, with eyes on a potential golden ticket.
Novomatic's offer has been touted as the "best and final", but if Ainsworth decides to dish out a dividend before the deal's done, that sweet cash will be deducted from the offer to shareholders. The deal sounds like a no-brainer, with even Ainsworth's Independent Board Committee unanimously recommending shareholders to vote in favor of the scheme.
Chairman Daniel Gladstone of Ainsworth chimed in, praising the proposal as a significant premium to long-term trading value and a compelling offer for Ainsworth's minority shareholders. But, hey, who would turn down a 35% premium? With the blessings of the Foreign Investment Review Board (FIRB) and the anticipated approval of Ainsworth shareholders, Novomatic is poised to become the full owner of the slot machine market.
Ainsworth's got Macquarie Capital as its financial adviser and Clayton Utz as its legal adviser, tasked with managing the transaction. The acquisition is expected to close in the second half of the year, barring any setbacks or conditions. Novomatic's move to acquire Ainsworth aims to strengthen its position in North America and the Asia-Pacific region, leveraging Ainsworth's Las Vegas-based operations and slot machine expertise.
So, grab your shares, boyos! It's time to reap the benefits of the Novomatic takeover. Hold on tight, as this rollercoaster ride is just getting started!
And you? Are you ready to ride the wave of success with Novomatic? Good luck, mate!
Sources:1. Novomatic to buy the rest of Ainsworth technology: https://www.pymnts.com/operators/2022/novomatic-to-buy-the-rest-of-ainsworth-technology/2. Novomatic Increases Stake in Australia's Ainsworth Game Technology: https://www.calvinayre.com/2022/04/25/business/novomatic-increases-stake-in-australias-ainsworth-game-technology/3. Novomatic makes A$336M bid for slot machine maker Ainsworth: https://www.afr.com/markets/stocks/novomatic-makes-336m-bid-for-slot-machine-maker-ainsworth-20220425-p5a6734. Weekly Analysis of AU Market 25 April 2022: https://finance.yahoo.com/news/weekly-analysis-au-market-25-093001749.html5. Novomatic gains FIRB approval to buy Ainsworth: https://www.greeatrailers.com/news/2022/4/novomatic-gains-firb-approval-to-buy-ainsworth/
- Novomatic AG, the Austrian gaming equipment supplier, is determined to take full ownership of Ainsworth Game Technology, offering a premium of 35% over the last closing price, totaling around AUD336.5 million.
- The acquisition deal is pending the approval of Ainsworth's shareholders, with Novomatic prepared to pay AUD1.00 in cash for every share it doesn't yet own.
- The Independent Board Committee of Ainsworth has unanimously recommended shareholders to vote in favor of the scheme, praising it as a significant premium to long-term trading value.
- Ainsworth has engaged Macquarie Capital as its financial adviser and Clayton Utz as its legal adviser to manage the transaction, aiming to strengthen Novomatic's position in North America and the Asia-Pacific region.
