NOVOMATIC has moved to strengthen its position in the Australian and US gaming markets by acquiring a majority stake in Australian gaming supplier Ainsworth Game Technology (AGT).

The Austrian gaming giant has signed a purchase agreement with AGT founder and majority owner Len Ainsworth to acquire approximately 53 per cent of the company’s share capital.

AGT is a publicly listed company headquartered in Sydney, with offices in North and South America. The company posted revenue of AUD$240.6m for its financial year ended June 30th 2015, with profit for the year up 14 per cent to $70.4m.

It has recently diversified its business by entering the Class II gaming market through its acquisition of Nova Technologies, completing the US$38m deal in January this year.

NOVOMATIC described the deal as “a milestone” in its history, reinforcing its market position in Australasia and the US.

“With the planned acquisition of shares in Ainsworth, one of the top players in Australasia and the US, we will not only increase our market share in these continents, but also ensure our international growth strategy continues,” NOVOMATIC chief executive Harald Neumann said.

“With the transfer of know-how, content and high-tech gaming equipment through synergies, we can potentially increase our presence in the global gaming market,” he added.

NOVOMATIC must obtain regulatory approval to complete the deal, which comes as the company continues to fight to acquire a controlling stake in Casinos Austria, the state-owned gaming business in its native country.

Shares in Ainsworth Game Technology Limited (Co.Data) (ASX:AGI) closed up 3.92 per cent at AUD$2.12 per share in Sydney Tuesday.

Related