• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Ainsworth backers nod majority stake sale to Novomatic

Jun 27, 2016 Newsdesk Latest News, Top of the deck, World  


Ainsworth backers nod majority stake sale to Novomatic

Australia-based slot machine maker Ainsworth Game Technology Ltd said in a filing on Monday that its shareholders had that day approved the sale of 52.2 percent of company founder Len Ainsworth’s shares, to Austrian gaming firm Novomatic AG.

Danny Gladstone, Ainsworth Game’s chief executive, said in a statement contained in the filing: “While the process has been protracted, this is an important and exciting point in Ainsworth Game Technology’s development.”

After the proposal to sell a majority stake to Novomatic was announced in February, the Australian Securities and Investments Commission – Australia’s corporate, markets and financial services regulator – and an investment firm called Fortress Centaurus Global Master Fund Ltd filed separate applications to Australia’s Takeovers Panel for the body to look into the matter.

The panel is described as an independent, peer review body and was set up by the Australian federal government.

The completion of the share sale voted for on Monday is “subject to a range of regulatory and gaming licence approvals”, stated Ainsworth Game’s filing to the Australian Securities Exchange (ASX).

Mr Gladstone said: “Novomatic is a highly respected and impressive industry leader. We look forward to progressing this relationship with a view to delivering the significant expected benefits that have been outlined and execute on our international growth strategy”.

Under the deal, Novomatic is slated to provide “significant game development and other intellectual property” to Ainsworth Game and jointly to work on a global distribution and marketing strategy, said the Australian firm at the time of the initial announcement.

Harald Neumann, CEO of Novomatic, was quoted as saying in Monday’s filing to the ASX: “Through Novomatic’s majority shareholding, Ainsworth Game will benefit from collaboration across a range of markets that will be substantially positive for long term shareholder wealth creation. We value the trust and support by the minority shareholders through the positive vote of approving the share transaction and will make every effort to meet their expectations.”

The current board and executive management teams of Ainsworth Game is expected to stay in place with Novomatic planning to nominate additional directors, according to previous filings.


  • tweet
Related articles
  • Ainsworth CEO flags US$11mln loss for 6 months to Dec 31
    Ainsworth CEO flags US$11mln loss for 6...

    Nov 26, 2020  

  • Ainsworth dividends off until market clarity: chairman
    Ainsworth dividends off until market...

    Oct 27, 2020  

More news
  • Philippines to add POGOs to AML law to avoid FATF grey list
    Philippines to add POGOs to AML law to...

    Jan 25, 2021  

  • Okada Manila warns against online casino using its name
    Okada Manila warns against online...

    Jan 25, 2021  


Latest News

Philippines to add POGOs to AML law to avoid FATF grey list

Philippines to add POGOs to AML law to avoid FATF grey list

Jan 25, 2021  

The Philippine Senate (pictured) and House of Representatives have respectively approved amendments to the country’s Anti- Money Laundering Act, known as the AMLA, adding Philippine Offshore Gaming...
Read More
Okada Manila warns against online casino using its name

Okada Manila warns against online casino using its name

Jan 25, 2021  

CNY daily visit average could be down versus Xmas: MGTO

CNY daily visit average could be down versus Xmas: MGTO

Jan 25, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

"We have estimated that on average, the [daily] visitor arrivals for this year’s Chinese New Year break could turn out to be a bit weaker than for the Christmas holiday period"

Maria Helena de Senna Fernandes

Director of the Macao Government Tourism Office



Most Popular

  • Sands China sixth Macau op to pledge staff extra paymentSands China sixth Macau op to pledge staff extra payment January 21, 2021
  • Londoner Macao first phase launch Feb 8 says Sands ChinaLondoner Macao first phase launch Feb 8 says Sands China January 21, 2021
  • Macau Covid-19 case no bar to mainland travel tiesMacau Covid-19 case no bar to mainland travel ties January 22, 2021
  • Digital yuan eventually for Macau mass bets mulls BernsteinDigital yuan eventually for Macau mass bets mulls Bernstein January 22, 2021
  • Melco likely to take on more debt for expansion: Moody’sMelco likely to take on more debt for expansion: Moody’s January 20, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us