Nov 21, 2018 Newsdesk Industry Talk, Latest News, Top of the deck
Novomatic AG has detailed a consolidation strategy designed to “optimise internal processes and structures across international borders”. The Austrian supplier of gaming equipment has released a statement from Novomatic chief executive Harald Neumann in which he says it is “ultimately [time] to make decisions about the future positioning of the company in the various markets and divisions”.
He added: “We began this process of consolidation a few months ago, which also includes moderate acquisitions and the evaluation of various companies with regard to their optimisation potential.”
The company has expanded rapidly in recent years, including taking a 52-percent stake in Australian slot machine maker Ainsworth Game Technology Ltd.
It was announced last month that Novomatic subsidiary Novomatic Gaming Industries GmbH, which had acted as a holding company for a number of brands including United Kingdom-based slot machine maker Astra Games Ltd, had been merged into the parent.
The latest Novomatic statement coincided with the release of confirmation by Standard & Poor’s of the company’s credit rating at BBB-/A-3, with a stable outlook.
“The good rating confirms our fundamental strategy: we think over longer periods of time and focus on the international consolidation of the group of companies,” the Novomatic statement quoted Mr Neumann (pictured in a file photo) as saying.
The statement went on to explain Novomatic’s impact on the economy of Austria, which the company says is worth about EUR2.5 billion (US$2.84 billion) annually.
Novomatic said it employed more than 25,500 people around the world, had a presence in over 50 countries and exported to more than 75 markets. The company said it operated about 260,000 gaming terminals and video lottery terminals in its 2,100-plus gaming operations.
Novomatic reported record annual revenue of about EUR2.53 billion for the 2017 financial year, up 11.1 percent in year-on-year terms, compared to EUR2.27 billion the company achieved in 2016. In the April announcement, Mr Neumann said the company’s focus would be on efficiencies.
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