Austria’s Novomatic completed its purchase of the major shareholding in Ainsworth for about US$350.06 million in January after the deal was first proposed two years earlier.
Novomatic’s acquisition gave it access to new markets in Asia and the United States. At the time, Novomatic chief technology officer, Thomas Graf, said Ainsworth had “superior gaming technology, clear industry expertise and [an] impressive international footprint, especially in the U.S. market.”
Ainsworth reported less than two weeks ago that it expected its revenue for the second half of 2018 to reach US$26.5 million. This was an increase of US$11.8 million over previous expectations and came after the company signed a significant deal with Churchill Downs.
Ainsworth didn’t provide a reason for Novomatic’s stake reduction. However, Harald Neumann, Novomatic CEO, said in early July that the company’s revenue in the first half of 2017 climbed to more than US$1.4 billion. The company has increased its footprint of casinos, bingo facilities and sports betting outlets around the world from 1,800 to 2,100 and also now operates around 70,700 gaming devices. This is a substantial increase over the 9,000 reported in 2017.
It’s possible that the decision was made to free up cash for other operations. The company is considering a move, through its Novomatic Sports Betting Solutions subsidiary, into the newly legalized sports betting market in the U.S. and is also focusing on offering more server-based and server-supported gaming across Europe.
Source.: GMB / Calvin Ayre
