Gambling in the USA

Authorities accede NOVOMATIC’s stake in Ainsworth

Published

7 years ago

March 9, 2018

Athira A

Photo credits: calvinayre.com

Reading Time: 4 minutes

NOVOMATIC’s stake in Ainsworth has been acceded by the authorities. The deal claims to be a huge Austrian investment and the initial successful registration of an Austrian gaming company in Las Vegas, Nevada.

With All the international regulatory approvals been set-up, it has finally materialised. NOVOMATIC acquired approximately 52 percent of the Australian industry giant Ainsworth Game Technology Limited (AGT). The formal closing which took place on January 5, 2018, was preceded by a series of meticulous audits conducted by various gaming authorities, ranging from Australia to South America and the US. A supreme focus was placed on comprehensive compliance checks that comprised not only NOVOMATIC itself but also the owner, the Supervisory Board and the Executive Board.

Ainsworth Game Technology Ltd is a publicly listed and globally operating company based in Newington, Sydney, with offices branching out in numerous countries namely North and South America. It has emerged in the forefront as a leading producer and supplier of high-quality gaming solutions in Australia, Asia and the Americas. The shares were sold by former majority shareholder Len Ainsworth, who for over half a century has been one of the industry’s most respected figures.

The foundation for the acquisition of 52 percent of the shares by NOVOMATIC was already laid at the beginning of 2016. However, at that time the minority shareholders’ consent, as well as the required regulatory and antitrust approvals, were still pending. This hurdle has been overcome in the last two years as part of the most thorough compliance checks. With the granted approvals of the international authorities, NOVOMATIC has now not only achieved another milestone in its corporate history of success but also considerably strengthens its market position in Australia, Asia and the US.

The acquisition is of major strategic importance for NOVOMATIC as it grants the Austrian gaming technology group access to the huge US market. Alongside competitor Aristocrat, Ainsworth is considered the market leader in Australia and ranks among the top 5 gaming companies in the US. Both gaming empires were founded by Len Ainsworth who celebrated his 94th-anniversary last year – Aristocrat in 1956 and Ainsworth in 1995.

With Ainsworth being publicly listed on the Australian Stock Exchange (ASX:AGI), the market has remained supportive of the transaction itself, as reflected in both Ainsworth’s share price and the broad shareholder approval of the NOVOMATIC investment. Upon closing of the shareholding acquisition, Len Ainsworth has resigned as an Executive Director but will maintain an advisory role for another year. NOVOMATIC CEO, Harald Neumann joined the Ainsworth Board of Directors in February 2017 as a Non-Executive Director.

With the deal amounting to the equivalent of around EUR 300 million, NOVOMATIC has crowned its successful expansion course of recent years. The Group has made consistent strategic acquisitions amounting to an annual average of half a billion. “We have made 150 acquisitions since 2009 – on average 20 every year,” said Neumann. So far, the acquisitions were within the range of EUR 20 to 50 million. “With Ainsworth, we have now clearly exceeded the EUR 100 million mark. Growing acquisitions are a direct result of global consolidation in the gaming market,” he explains.

“With the majority acquisition of Ainsworth, we continue our consistent international growth strategy. In addition to increasing our market share in some highly competitive regions, we also clearly focus on the synergetic transfer of know-how, content and high-tech gaming equipment. Among the core competencies of Ainsworth are for example the Jackpot systems. The takeover will add great diversity to our European product portfolio, and it grants Ainsworth access to our huge game library,” continued Neumann. Initial R&D cooperation was already taken up in the course of last year.

Ainsworth Chairman, Graeme Campbell also highlighted the benefits of the deal: “The now finalised NOVOMATIC majority entry is a historically important day for Ainsworth and marks the next step in the company’s development in that we now have a new, international majority partner. This partnership strengthens AGT by providing us with the resources to better compete with our highly regarded gaming technologies and international competition expertise. We appreciate the support of NOVOMATIC and look forward to delivering benefits for all shareholders in the future.”

The declared goal of the cooperation is to jointly design highly competitive products for the US – a market with nearly one million gaming machines in operation. In a first step, Ainsworth products and technologies will diversify the European market. The combined strengths of the NOVOMATIC Americas headquarters in Chicago, Illinois, and the Ainsworth facility in Las Vegas, Nevada, will be the basis for the targeted US market share of 10 percent over the next five years. In this context, NOVOMATIC particularly relies on the Ainsworth sales network, licensing rights for all US federal states, and target group-specific expertise. In addition, this strategic positioning will tap new potentials in South America.

Meanwhile, NOVOMATIC is particularly proud to have excelled all regulatory checks at the end of December 2017. “This makes NOVOMATIC one of the few internationally active companies to have passed such examinations in order to be granted green lights for the acquisition,” added Neumann. A highlight is the successful approval of the transaction by the Nevada gaming authorities. This is the first time for an Austrian company to be registered in the global gaming hub of Nevada.

Neumann confirms: “In the course of this registration all compliance aspects were thoroughly audited – including all parts of NOVOMATIC AG.” The majority acquisition of AGT is also the largest investment to date of an Austrian company in Australia. And it is an investment that significantly increases the gaming technology Group’s stake in the global gaming market. This step – along with others – is intended to make NOVOMATIC the global market leader in the field of high-tech gaming technology in the long-term.

Gambling in the USA

Gaming Americas Weekly Roundup – November 11-17

Published

4 days ago

November 18, 2024

Niji Narayan

Reading Time: 2 minutes

Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

Golden Entertainment Inc. reported financial results for the third quarter ended September 30. The Company reported third quarter revenue of $161.2 million, net income of $5.2 million and Adjusted EBITDA of $34.0 million. In addition, on November 5, the Company’s Board of Directors authorised the Company’s recurring quarterly cash dividend of $0.25 per share of the Company’s outstanding common stock payable on January 7, 2025 to shareholders of record as of December 20, 2024.

Snoqualmie Casino has announced its rebranding to Snoqualmie Casino & Hotel, reflecting an exciting new chapter in the venue’s history as it embarks on a much-anticipated expansion. Set for completion in mid-2025, this project promises to elevate the guest experience, making Snoqualmie Casino & Hotel a premier destination for entertainment, relaxation and culinary excellence. The cornerstone of the expansion is the construction of a luxurious hotel, which will offer guests unparalleled comfort and stunning views of the Snoqualmie Valley and Mount Si.

Galaxy Gaming Inc., the world’s largest independent developer and distributor of casino table games and technology announced, at a special meeting of its stockholders held on November 12, 2024 (the Special Meeting), Galaxy Gaming stockholders voted to approve the Company’s acquisition by Evolution Malta Holding Limited (Evolution), Evolution AB (publ)’s wholly owned subsidiary. Galaxy Gaming will file a Form 8-K with the U.S. Securities and Exchange Commission reporting the final voting results of the Special Meeting.

Caesars Virginia has announced that its highly anticipated opening date will be Thursday, Dec. 12, 2024. The resort will welcome its first guests beginning at noon. Additional details on the opening festivities will be announced at a later date. Caesars Virginia is a 587,000 square foot casino resort with more than 90,000 square feet of gaming space.

Partnerships

NGX has entered into a strategic partnership with Sportradar, a global leader in sports integrity solutions, which collaborates with more than 180 sports federations and leagues. The agreement aims to support the Brazilian football federations of Rio Grande do Sul, Paraná and Pará, providing detailed reports to ensure the integrity of sporting events and combat fraud.

EvenBet Gaming has announced the launch of its advanced poker solutions in partnership with JugaMax, one of the largest and most respected casino operators in Paraguay. This strategic collaboration marks EvenBet’s debut in the Paraguayan iGaming market, solidifying the company’s expansion within Latin America. The newly established partnership enables the integration of EvenBet Gaming’s poker offering on the JugaMax platform.

Jackpocket, the leading lottery app in the US, and Barstool Sports announced a new collaboration naming Jackpocket as the “Exclusive & Official Digital Lottery Partner of Barstool Sports”. The deal with Barstool follows Jackpocket’s parent company, DraftKings, announcing a similar agreement with the media company in February 2024. This collaboration centers around the integration of Jackpocket in Barstool’s content. Fans can participate in the lottery alongside some of Barstool’s biggest names such as Dave Portnoy, Big Cat & PFT from Pardon My Take – the leading sports podcast in America, Wallo & Gillie from Million Dollaz Worth of Game and more.

Gambling in the USA

Gaming Americas Weekly Roundup – November 4-10

Published

1 week ago

November 12, 2024

Niji Narayan

Reading Time: 2 minutes

Latest News

PENN Entertainment and ESPN announced that account linking between ESPN BET and ESPN is now available for customers, creating an even more deeply integrated media and betting experience. By linking accounts, fans now have the ability to seamlessly track upcoming, live and settled bets within the ESPN app and on ESPN.com. With this product enhancement, ESPN BET will soon bring fans more personalised bets and timely promotions based on their favourite sports, teams, players and fantasy rosters.

Accel Entertainment Inc. has announced that it has completed the acquisition of 85% of the ownership interests of Toucan Gaming LLC and LSM Gaming LLC, two Louisiana-based route operators and owners of multiple licensed video poker establishments (collectively, “Toucan”), for approximately $40 million. The combined business will operate as Toucan Gaming throughout Louisiana and will be led by Stan Guidroz, an industry-leading gaming executive and current CEO of Toucan Gaming. Mr. Guidroz owns the remaining 15% of Toucan’s ownership interests and will lead the Accel team supporting Toucan’s continued growth.

INTRALOT S.A. has announced the undertaking of a new project between the British Columbia Lottery Corporation (BCLC), the sole lottery operator for the Government of British Columbia in Canada, and INTRALOT, its US subsidiary, for the provision of an online lottery platform. The project also includes the digitalisation of the existing land-based network. The solution will be based on the Player X platform, part of the Lotos X ecosystem, and adds to the company’s overall partnership with BCLC, which has been extended until 2028.

BetMGM Poker has become the third US operator to offer multi-state online poker. The company has merged its player pools in Michigan and New Jersey. Both states are a part of the Multi-State Internet Gaming Agreement, which allows online poker networks to share liquidity and players in participating markets. The two-state network went live Wednesday afternoon after morning maintenance.

Betsson Group has celebrated its success at the SBC Awards Latinoamérica 2024, winning two prestigious awards: Sportsbook Operator of the Year and Leader of the Year, which was awarded to Kevin Saliba, Commercial Director (Business Development) for Latin America. This marks the second consecutive year Betsson has earned the Leader of the Year accolade, following Andrea Rossi’s win in 2023 – an achievement that underscores Betsson’s consistent leadership in the region.

Partnerships

Play’n GO has announced a new operator partnership with renowned gaming brand Hard Rock Digital for their top-rated Hard Rock Bet online casino platform in New Jersey. The Hard Rock brand is synonymous with entertainment worldwide, and this partnership will see Hard Rock Bet players in New Jersey gain access to hit Play’n GO titles such as Piggy Blitz, Book of Dead and Rise of Olympus 100.

SCCG Management, a global leader in gaming innovation and advisory, has announced a strategic partnership with Chata.AI, a technology provider specialising in self-service, proactive analytics that enables businesses to access real-time insights without requiring extensive technical expertise. This partnership introduces Chata.AI’s technology to the gaming industry, providing operators with powerful tools to streamline decision-making and increase operational efficiency.

Gambling in the USA

Gaming Americas Weekly Roundup – October 28-November 3

Published

3 weeks ago

November 4, 2024

Niji Narayan

Reading Time: 2 minutes

Latest News

Elray Resources Inc. has announced a significant milestone in the company’s growth strategy. The company has completed the sale of proprietary technology to 180 Life Sciences Corp. (NASDAQ:ATNF), a NASDAQ-listed company in exchange for preferred stock convertible into a 40% stake in ATNF and warrants to purchase 3 million shares of ATNF common stock, the conversion/exercise of which is subject to stockholder approval. The technology stack contained within Elray’s technology package will assist ATNF in launching an iGaming Blockchain casino.

PrizePicks, the largest daily fantasy sports operator in North America, has announced that it has been awarded Daily Fantasy Sports Operator Licenses in Delaware and Missouri. The company will launch Arena, its innovative peer-to-peer fantasy sports contest, in both states. With these new state launches, Arena will now be available in 15 states across the US.

The Pennsylvania Gaming Control Board (Board) unanimously voted to renew the Category 2 stand-alone casino license of Wind Creek Bethlehem LLC, operator of Wind Creek Bethlehem casino in Northampton County. In making the decision, the Board determined that Wind Creek Bethlehem LLC had fulfilled the obligations under its previously approved casino operator’s license and therefore qualified to have its license renewed for an additional five-year period.

Aristocrat announced that the company was the first international slot and online technology company to be granted a Gaming-Related Vendor license by The General Commercial Gaming Regulatory Authority (GCGRA), the federal entity overseeing commercial gaming activities in the United Arab Emirates (UAE). This announcement grants Aristocrat the ability to provide the company’s land-based electronic gaming machines (EGMs) and online games and technology solutions to commercial gaming operators licensed by the GCGRA.

Partnerships

SCCG Management, a leading global advisory and consulting firm in the gambling industry, has entered into a strategic partnership with Slot Machines Unlimited, a premier provider of refurbished slot machines and gaming equipment. The partnership between SCCG Management and Slot Machines Unlimited leverages both companies’ strengths: Slot Machines Unlimited’s expertise in refurbished gaming equipment and SCCG’s deep industry insight, global network and strategic growth capabilities. The collaboration will enhance Slot Machines Unlimited’s international sales and service operations, ensuring gaming establishments worldwide have access to high-quality slot machines and support.

Galaxy Gaming Inc. has announced that the Galaxy Operating System (GOS) is now live on over 50 ships worldwide with Carnival Corporation & PLC, the world’s largest leisure travel company. Since the installation, tables powered by GOS have awarded over $5 million in jackpot payouts to players. GOS is the jackpot progressive system for all Carnival Corporation ships, including Carnival Cruise Line, Holland America Line and Princess Cruises. Launched in 2024, GOS is the next-generation game management system developed by the industry’s leading table game experts.

The hottest new game from Aristocrat Gaming, Phoenix Link, is now live on casino floors, with Yaamava’ Resort & Casino being the first in North America to offer the highly-anticipated game. As the next evolution of the international hit game, Dragon Link, Phoenix Link features player-favourite mechanics from top games with all-new themes, features and bonuses.

Latest News2 days ago

Make every pixel personal: Opera GX facelift lets you match your browser to your setup down to the smallest detail

Latest News2 days ago

Casino Management System Market to Reach USD 29.09 Billion by 2032 | Enhanced Security and Operational Efficiency Drive Growth | Research by S&S Insider