The Novomatic Casino Software Company Is Getting Closer To Getting Ainsworth Gaming License. Two Australian gaming giants are exchanging business deals. The two companies are Novomatic and Ainsworth Game Technology. The former wants to buy the latter’s license. For weeks now, the two gaming Aussie Pokies giants are having talks. By latest Tuesday, the two make the announcement. The companies say they are in the final touches of the acquisition. The acquisition by Novomatic is almost over. Because of this, Len Ainsworth is no longer Ainsworth Game Technology executive director.
By Friday, it is clear that the two companies have the necessary documentation. They make announcements that now Novomatic is taking 52% of Ainsworth Game technology. Although the deal is finally going to be over, it didn’t start yesterday. It has been something going on for years. Len Ainsworth goes on record to announce the selling part of his company’s shares. This announcement dated back some two years ago.
Back then, Len agrees to sell some 172.1 million shares from his company. He decides to sell the shares to any willing company. The starting price tag is AUD 473.3 million. This amount is equal to $371 million. Len will sell the shares immediately. But it is not easy. The problem is that the transaction requires several international approvals. This is what delays the deal.
Several areas and territories have to come in. Some of these territories include South America, The U.S., and Australia. After going through various clearances, it is now finalizing the deal. “The approval involves intense scrutiny from many gaming boards. Novomatic is now one of the few active companies. It is one among a few that passes through strict compliance checks. These checks are from international authorities,” Novomatic says.
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Following the completion of the deal, Len steps down. He, says that he will stay. He will remain with the company as a consultant. Len Ainsworth will do this for the remaining months of the year. But he also has some shares remaining in the company. When he sells off shares, he retains a few.
After acquiring the more than 52% of the eGaming company shares, the new owner wants to expand. Novomatic now says that it wants to improve its presence in the Americas. Although this is a hard task, it is not a new thing to the company.
AGT Chairman, Graeme Campbell now says that the sale of the company shares is historic. Campbell says that it is a good thing to see two international gaming companies merge. He says that this makes business easy. It is easy for two gaming giants to penetrate. Also, this takes real money casino gambling business to a higher level.
“We’ve got a new international company. It is strong because there’re two companies. Shareholders recognize this deal in voting in its favor. It is evident that this partnership strengthens Ainsworth Game. It also provides us with the resources and support. Above all, this will help us to leverage our highly-regarded gaming technology. We’ll now use our expertise to compete in the world’s gaming markets,” says AGT chair.