Australian firm Ainsworth Game Technology Ltd says it expects the tie-up with Austria’s Novomatic AG to be formalised later this year, with the completion of the regulatory approval process.
Ainsworth Game had said in June last year that its shareholders had approved the sale of a majority stake in the business – controlled by its founder Len Ainsworth – to Novomatic.
“The regulatory approval process for the sale of shares to Novomatic AG is progressing well,” said the chairman of Ainsworth Game, Graeme Campbell, in the firm’s annual report released on Friday.
“We expect completion to occur before the end of this calendar year,” he added.
Mr Campbell additionally stated: “We look forward to welcoming Novomatic to Ainsworth as the new majority shareholder. We will continue to seek to explore and deliver synergy benefits from this strategic relationship.”
Ainsworth Game had previously said – in its interim report published in August – that it expected the integration with Novomatic to be completed in the “September 2017 quarter”.
In May, Danny Gladstone, chief executive of Ainsworth Game, had flagged the possibility that the integration of the two businesses could be completed by October this year. A factor affecting how quickly it can be achieved is the 196 United States jurisdictions in which Ainsworth Game is licensed to supply gaming equipment, as Novomatic also needs to be approved by those places, Mr Gladstone told GGRAsia at the time.
The two firms shared an exhibition stand at the Global Gaming Expo (G2E) Asia trade show, held in Macau in May. Novomatic has already taken over the management of sales for Ainsworth Game in Europe. The Austria-based company’s global sales division will be responsible for Ainsworth Game’s European sales, according to an August announcement.
Feb 22, 2019A statement issued on Friday on behalf of Japanese gaming entrepreneur Kazuo Okada (pictured) said that Hong Kong’s anti-graft agency the Independent Commission Against Corruption (ICAC), had...
Feb 22, 2019
Feb 22, 2019
"We are building momentum and continuing to grow our business while at the same time operating more efficiently"
Chief executive and president of casino equipment maker and lottery services supplier Scientific Games