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Novomatic’s acquisition of AGT finally gets the go-ahead

Published

7 years ago

December 21, 2017

Zoltan Tundik

Reading Time: < 1 minute

After two years of patiently waiting, Novomatic AG’s acquisition of Ainsworth Game Technology is finally set to conclude at the beginning of 2018, on the 5 January.

At the end of last week, Novomatic’s Chairman and Chief Executive, Harald Neumann confirmed the deal was set to be finalised after all the required regulatory approvals had been received.

The press release Novomatic posted, stated: “The approval involved intense scrutiny from multiple gaming boards, including in Australia, South America and the United States.

“Novomatic is now one of the few internationally active companies to have passed strict compliance checks from these international authorities.”

Back in 2016, Len Ainsworth, Founder of AGT, penned a deal with Novomatic to sell off his majority stake in the company.

Ainsworth agreed to sell 172.1 million ordinary shares to the Austria-based gaming technology company, for an estimated AUS$70m.

Neumann stated that the acquisition was intended to help the company increase its market share in the US to approximately 10% over the following five years.

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Zoltan Tundik

Zoltán is a self-taught publisher and events organizer who has developed several brands and services that have increased the notoriety of his company within multi-billion dollar industries. In 2018, he has become a TEDx speaker and talked about reputation management in the digital era. As Co-Founder of HIPTHER Agency, Zoltan has helped develop highly respected online news portals, virtual and in-person conferences that cater to multiple industries on 5 continents. Among the developed brands and services you can find online news portals that cover several tech industries, gaming, blockchain, fintech, artificial intelligence, and more. In parallel, the company has built a portfolio of annually organized boutique-style conferences in Europe and North America. All the events organized by his company focus on bringing a wealth of information about the latest innovation in several industries such as Entertainment, Technology, Gaming and Gambling, Blockchain, Artificial Intelligence, Fintech, Quantum Technology, Legal Cannabis, Health and Lifestyle, VR/AR, eSports and many more. Zoltan enjoys writing articles on all portals owned by the HIPTHER Agency, talking at conferences, hosting the weekly HIPTHER Talks Podcast, and loves spending time with his family. Zoltan is a duathlete who enjoys training for different international competitions which include running and cycling.