Latest news with #Novomatic
AU Financial Review
12-05-2025
- Business
- AU Financial Review
Billionaire's son takes up the fight for the future of Ainsworth
More than seven years have passed since billionaire poker machine king Len Ainsworth sold a majority stake in his namesake company to Austrian family business Novomatic. That deal, worth $500 million, ended his affiliation with Ainsworth Game Technology and gave Novomatic the chance to grow its presence in the United States. The Ainsworth family has barely uttered a word about the company since 2018, even as shares in AGT slumped more than 55 per cent. But an attempt by Novomatic to take full control of the business has changed that.
AU Financial Review
01-05-2025
- Business
- AU Financial Review
Allan Gray, Spheria slam Ainsworth board over takeover bid
Ainsworth Game Technology's largest minority investor has accused its board of failing to act in the interest of shareholders after it endorsed plans to hand control to Novomatic, an Austrian family-owned business. Allan Gray and Spheria Asset Management, which together own about 13 per cent of the poker machine maker's shares, claimed they were 'snookered' by Ainsworth's board and alleged it had ultimately supported the path of 'least resistance'.
AU Financial Review
28-04-2025
- Business
- AU Financial Review
Ainsworth shareholder slams takeover bid as shares climb 31 per cent
An American shareholder of Ainsworth Game Technology has accused the poker machine maker of misleading minority shareholders after it said it would hand control to Novomatic, an Austrian family-owned business. Ainsworth told investors on Monday that Novomatic, its major shareholder, would acquire the 47.1 per cent of shares it did not already own for a cash consideration of $1 per share. The offer was a 35 per cent premium on Ainsworth's last closing price, giving it an enterprise value of $336.5 million. Shares climbed more than 31 per cent to 97¢ on Monday.
