Gambling in the USA

Ainsworth Acquires MTD Gaming

Published

5 years ago

March 10, 2020

Niji Narayan

Photo Source: cashpotcasino.com

Reading Time: < 1 minute

The US subsidiary of Ainsworth Game Technology Ltd, the Australia-based slot machine developer, has acquired MTD Gaming Inc, a US-based developer and supplier of unique poker, keno and video reel content for use in Multi-Game and Video Lottery Terminal markets.

The acquisition is valued at a total cost of US$26 million, payable at two milestone-based instalments. The deal is likely to be funded by a combination of existing debt facilities and cash reserves.

“We are delighted to welcome MTD to Ainsworth,” said Ainsworth CEO Lawrence Levy.

“The acquisition marks another positive step in transitioning Ainsworth to growth and improved profitability. MTD’s unique poker and Keno games are a great fit with our existing Class II and Class III offerings in the US and follows the global launch of our new A-Star cabinet hardware in February 2020. We expect to drive incremental revenues by offering these proven and highly successful games to customers in our established markets where Ainsworth operates, including California and Nevada.”

MTD currently has products installed in Montana, Louisiana and South Dakota but Ainsworth said it will target further opportunities in other selected jurisdictions including Nevada, California, Arizona, and New Mexico.

Up Next

Gambling Bill Under Process in Ukraine Continues

Don't Miss

Banks Promised $7 Billion for Eldorado to Acquire Caesars. Then the Coronavirus Hit

Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.