Supplier News
Austria – Progress made on Novomatic’s purchase of Ainsworth shares
By Phil - 12 January 2017
Novomatic has obtained minority shareholders’ approval for the acquisition of approximately 53 per cent of the ordinary shares in Ainsworth Game Technology held by Len Ainsworth with several head of terms signed.
AGT Chief Executive Officer, Danny Gladstone, said: “Our respective game design departments continue to work hard on the exchange of game assets to successfully integrate NOVOMATIC’s successful games onto our platforms and vice versa. I am happy to say that the cooperation is working very well and we are looking forward to the positive prospects of the future relationship.”
The online gaming license agreement between Greentube, a 100 per cent indirect affiliate company of Novomatic, and AGT has concluded. This will enable the distribution of AGT’s slot games using AGT’s remote gaming server via the Greentube supplied online casinos within the Americas and Europe. In addition, AGT has entered into a license agreement which enables AGT the use of the Novo Remote Gaming System (powered by Greentube) for faster distribution of AGT slot games in various European markets.
Novomatic UK, the exclusive distributor of Ainsworth products in Europe, has placed orders to complete the purchase of 1,000 gaming kits as per the head of terms in AGT’s 2017 financial year for the European market. As part of the agreement, an additional 1,000 gaming kits will be ordered in AGT’s 2018 financial year. Novomatic Chief Executive Officer Harald Neumann has emphasised that in the short period since the GM, the two companies have not only significantly realised the head of terms, but also the strategic planning for their shared future once Novomatic becomes the majority shareholder of AGT. Mr Neumann is, therefore, looking forward to joining AGT’s Board in February 2017. Both companies are currently undergoing the required gaming authorities’ licensing approvals before completion of the acquisition.
