NOVOMATIC recently announced it completed its investment in Ainsworth following approval from regulatority authorities, including the Nevada Gaming Commission in Las Vegas, Nevada. All the necessary international regulatory confirmations are in place, allowing NOVOMATIC to move ahead with the purchase of approximately 52 percent of the Australian gaming company Ainsworth Game Technology Limited (AGT). The process involved regulatory approval from multiple gaming jurisdictions, including in Australia, South America and the U.S..
The completion of the transaction took place on January 5, 2018. NOVOMATIC is now the owner of 52 percent of AGT’s issued capital. Given the completion of the sale, Len Ainsworth has resigned as an executive director of AGT effective immediately. He will continue to support AGT as a consultant for a period of 12 months.
NOVOMATIC is now one of the few European Union based companies to have passed strict compliance checks from these international authorities. For this reason, a variety of independent licensing boards undertook lengthy probity investigations and have confirmed the deal can go ahead.
“The compliance investigations carried out as part of this registration were extremely thorough," said Harald Neumann, chairman. "They included all corporate divisions of NOVOMATIC AG. Our shares in Ainsworth are strategically very important for NOVOMATIC. After all, the joint plan is to increase market share in the U.S. to about 10 percent over the next five years. In the long-term, NOVOMATIC may become the world market leader in the area of gaming.”