The large-scale purchase has been approved by all of the parties involved, including gambling regulators in Australia itself and also the Nevada Gaming Commission. Novomatic will now acquire a 52% controlling share in Ainsworth, which will see the latter firm beginning its operations under the Novomatic brand umbrella.
The purchase has also prompted the former director of Ainsworth, Len Ainsworth, to resign from his long-time post at the company to allow new leadership to take control. However, Ainsworth will still remain part of his company for the coming year under the terms of the acquisition deal.
Big Steps For Novomatic’s Growth
This is a big step for the Swedish gaming firm, which has plans to increase its market share in various regulated jurisdictions by a tenth by the year 2023. Novomatic will inherit all of Ainsworth’s proprietary casino games, software and products under the deal, which will significantly bolster its own growing portfolio of gaming-related products.
Commenting on the acquisition, Chairman of Novomatic Harald Neumann noted that compliance investigations have now been completed, and were in his words ‘extremely thorough’. He continued to reveal that these assessments included all of Novomatic AG’s corporate segments to ensure utmost compliance from the firm.
Firm to Grow Its US Market Share
Neumann noted that his company’s shares in Ainsworth are of crucial strategic value to Novomatic and its future growth. He said that the ultimate joint plan for his firm is to increase its US market share to at least 10% within the next five years, with room for further expansion as Novomatic’s brands and products take hold in North America.
The Chairman also revealed Novomatic’s long term strategies in his statement, noting that the group plans to become a global market leader in the areas of both land-based and online gaming. The acquisition of Australia’s Ainsworth will no doubt be a valuable step towards this goal, giving Novomatic an even wider range of products and services with which it can win over brand new target markets across the globe.