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Sydney-listed gaming supplier Ainsworth Game Technology (AGT) has confirmed that its long-serving chief executive Danny Gladstone will be stepping down from the role next year.

Gladstone intends to step down on June 30th 2019, having served as chief executive since February 2007 and overseen the company's acquisition by Austrian gaming giant Novomatic earlier this year.

AGT has now launched a search process to identify a successor, with Gladstone continuing to lead the business to ensure a smooth and orderly transition.

Following the appointment of a new CEO, Gladstone will continue to work with Ainsworth in a different role that utilises his extensive industry experience and expertise.

“While there will be a more appropriate time to formally thank Danny, I would like to state that he has been an excellent CEO for AGT,” said chairman Graeme Campbell. “He has successfully driven significant international expansion and growth in recurring revenues."

“Ainsworth is much stronger for Danny’s contribution. We are delighted he will continue to assist us in the future. A thorough and extensive search process will be undertaken to secure a new CEO who can lead AGT to the next stages of growth and profitability.”

Shares in Ainsworth Game Technology Ltd (ASX:AGI) closed in Sydney Wednesday up 2.18 per cent at AUD$1.17 per share. 

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