Officials Austria’s Novomatic GmbH told Reuters it is delaying an initial public offering cue to uncertainty surrounding new gaming regulations in Germany, one of its primary markets.
The company had planned to float the IPO on the Frankfurt stock exchange last week. It will be delayed at least until 2018, according to the Reuters report. The IPO reportedly was worth more than €5 billion, making it one of the largest offerings from Novomatic in years.
The new regulations in Germany restrict each operator to one license for up to 12 gambling machines, and stipulate that the gambling halls need to be 100-500 meters apart from each other. Novomatic owns 53 percent of the German operator licenses.
