Gaming equipment maker Novomatic AG says it has agreed to sell the group’s Admiral Group business in Austria to German-based sports betting and online slot games provider Tipico Group.
Austria-based Novomatic said in a Thursday press release that it would be “focusing on international growth markets and further global expansion” following the sale of Admiral Group.
The statement said Novomatic would sell its 100-percent stake in Atlas Group GmbH, parent company of the Admiral Group, “subject to certain conditions, such as regulatory approvals”. According to corporate information, Admiral Group has more than 200 gaming venues across Austria, and over 110 sports bars.
The value of the deal was not disclosed in Thursday’s announcement.
The release cited Stefan Krenn, a member of Novomatic’s executive board, as saying: “We have decided to sell the Admiral Group in Austria in order to focus on international growth markets and drive further global expansion.”
He added: “In Tipico, we found a highly professional and reliable partner who will continue to operate Admiral in Austria successfully and sustainably.”
The Austria-based manufacturer – traditionally strong in Europe and the Americas – has been working to increase the presence of its casino gaming machine products in Asia-Pacific markets. Novomatic controls a 52-percent stake in the Australian slot machine maker Ainsworth Game Technology Ltd.
Axel Hefer, chief executive of Tipico, said in prepared remarks that the agreement was an “important milestone in Tipico’s expansion strategy”.
“For 20 years, Tipico has stood for state-of-the-art technology, innovative products, and consumer protection,” Mr Hefer stated.
He added: “We are pleased to have found in Admiral a partner who shares these same values and we look forward to a successful future in the Austrian sports betting and gaming market.”
Last year, Tipico sold its U.S. sportsbook and online casino platform to casino operator MGM Resorts International.
