Austrian gaming powerhouse Novomatic AG Group is set to acquire all outstanding shares of Australian slot machine manufacturer Ainsworth Game Technology Limited (AGT), moving forward with a full takeover through a Scheme of Arrangement. Novomatic already holds a controlling 52.9% interest in Ainsworth, a stake it initially secured in 2018 following the purchase of shares from the company’s founder, Len Ainsworth, with the objective of strengthening its foothold in the United States market.
The proposed acquisition, announced publicly on Monday, will see Novomatic purchasing the remaining shares for a cash consideration of AU$1.00 per share. This offer values the deal at approximately AU $158.6 million (around US$102 million). Significantly, the offer price reflects a 35% premium over Ainsworth’s share price at market close on Friday, 24 April, underlining Novomatic’s commitment to delivering strong value to minority shareholders.
Completion of the transaction is anticipated in the second half of 2025, contingent on Ainsworth shareholder approval. Importantly, the deal has already received clearance from Australia’s Foreign Investment Review Board. Ainsworth’s Independent Board Committee has fully endorsed the offer, recommending that shareholders vote in favor of the scheme. The endorsement follows an exhaustive evaluation process, during which the committee weighed the proposal against the company’s medium- and long-term prospects as well as alternative strategic opportunities.
Commenting on the proposed acquisition, Stefan Krenn, a member of the executive board of Novomatic AG Group, emphasized the strategic alignment of the move with the company’s broader expansion objectives. “The acquisition of Ainsworth fits seamlessly into our international growth strategy, particularly our plans to broaden our reach across the Asia-Pacific region and the United States,” Krenn stated. He further noted that Novomatic’s longstanding involvement with Ainsworth provided an intimate understanding of its operations, making integration a natural progression. “We eagerly anticipate welcoming Ainsworth’s skilled and experienced workforce into the Novomatic family as part of our global growth ambitions,” he added.
Ainsworth views the transaction as a chance for minority shareholders to secure immediate value at a price higher than previous trading levels. Danny Gladstone, chairman of Ainsworth, highlighted the attractiveness of the offer in a filing with the Australian Securities Exchange (ASX). “The proposal put forth by Novomatic, our majority shareholder, delivers a significant premium compared to Ainsworth’s long-term trading value and presents a compelling opportunity for our minority shareholders,” Gladstone remarked. He elaborated that, after careful analysis, the Independent Board Committee unanimously concluded that the proposal offered substantial benefits relative to the company’s standalone growth prospects.
The acquisition marks a significant chapter in the evolution of Ainsworth Game Technology. Once a symbol of Australian innovation in gaming technology, Ainsworth will now become fully integrated into one of Europe’s largest and most diversified gaming corporations. For Novomatic, the move consolidates its international presence and strengthens its operational base in two of the world’s most lucrative gaming markets — the Asia-Pacific region and North America.
Overall, the transaction reflects the ongoing consolidation trend within the global gaming industry, as larger firms seek to enhance their portfolios, geographic reach, and technological capabilities through strategic acquisitions. As Novomatic prepares to fully absorb Ainsworth’s operations, industry observers will be watching closely to see how the synergies unfold and how the combined entity positions itself in an increasingly competitive market.
