Austrian slot manufacturer and operator Novomatic AG is launching an effort to expand into new regions in the wake of its impending status as the majority shareholder of Australia’s Ainsworth Game Technology Ltd.
Novomatic reported record combined group revenues for 2016, topping €4 billion for the first time. Novomatic officials say plans are to expand the company’s business in Asia, Australia, the U.S. and South America.
In a press release, Novomatic said its acquisition of a majority stake in Ainsworth, which is nearing finalization, offers “an important lever for the development of these markets.”
“In this short time, we have already made significant progress and begun the strategic planning process for our joint future after Novomatic becomes Ainsworth’s majority shareholder,” said Novomatic CEO Harald Neumann in the press release. The acquisition deal is currently in the process of approval by the regulatory agencies in the markets of the two companies.
This month, the company is adding Neumann as a non-executive member of the company’s board of directors.
Neumann stated that initial calculations indicate that in fiscal year 2016, core revenues at Novomatic increased 10 percent year-on-year to approximately €2.3 billion. Combined group revenues are expected to increase to €4.4 billion.
