Supplier News
Austria – Standard & Poor raises Novomatic’s rating due to solid operating performance
By Phil - 20 June 2023
Standard & Poor has analysed the strengths and risks of Austrian slot manufacturer Novomatic in comparison to international competitors and currently rates the Group with a BB+.
S&P justified the upgrade of the rating from BB to BB+ due to Novomatic’s solid operating performance in the 2022 financial year and the reduction in debt.
Against the backdrop of the recovery in the Gaming Technology and Gaming Operations segments due to the lifting of COVID restrictions in all markets, several acquisitions as part of the international expansion strategy contributed to the profit growth in the 2022 financial year. This included, above all, the acquisition of a majority stake in the Italian HBG Group.
Novomatic CEO Johannes Gratzl said: “The improvement of our rating once again confirms not only the success of our dual strategy as a producer and operator, but also that of our growth strategy and investments in our core markets. This makes Novomatic one of the top credit ratings in Europe and puts it in an excellent second place in a global comparison, ahead of other gaming technology groups.”
In the context of non-financial reporting, Novomatic also received important awards and top ratings for its great commitment to sustainability, such as in the Sustainalytics ESG Risk Rating. Recently voted “Best Employer in Lower Austria” by the Market Institute, Novomatic is aware of its responsibility towards its employees. With its own training programs, such as a Corporate Coding Academy for future developers or a program for the casino managers of tomorrow, the company, which has been awarded as a leading company, has already received numerous other employer awards, such as the berufundfamilie seal of approval from the Ministry of Family Affairs for family-friendly employers or that for Workplace Health Promotion.
