Ainsworth Board Supports Novomatic’s $336.8 Million Takeover Bid

April 28, 2025 12:01 PM AEST | By Team Kalkine Media

Google News:

Ainsworth Board Supports Novomatic’s $336.8 Million Takeover Bid — Image source: shutterstock

Recent News

Lawmakers push to ban direct-to-consumer drug advertising, WSJ reports

Single passenger survives Air India crash; Boeing and GE shares slide

Chime IPO surges 59% in NASDAQ debut

GameStop bets on trading cards, stock continues slide

Highlights

Ainsworth (AGI) board endorses $336.8 million acquisition offer.

Novomatic (NVM) plans to acquire the remaining 47.1% shares.

Offer includes a 35% premium over Ainsworth’s last closing price.

Ainsworth Game Technology (ASX:AGI) has received a takeover proposal from its majority shareholder, Novomatic (ASX:NVM), and the board has recommended shareholders accept the offer. The move could reshape the gaming technology landscape, with Novomatic already holding a 52.9% stake in Ainsworth and now aiming to acquire the remaining 47.1% shares.

Under the proposed all-cash deal, Ainsworth shareholders would receive $1 per share, reflecting a 35% premium over Ainsworth’s last closing price and a 28% premium compared to the six-month volume-weighted average price up to 24 April. The transaction values Ainsworth’s equity at approximately $336.8 million, with an enterprise value close to $336.5 million — around seven times Ainsworth’s fiscal year 2024 EBITDA of $48.2 million.

The agreement also hints at potential additional value for certain shareholders through fully-franked dividends, which could be declared at the board's discretion before the acquisition is finalized.

Novomatic, founded in 1980, is a giant in the global gaming technology sector. Operating over 221,000 gaming and video lottery terminals, it has established a presence across more than 50 countries, running over 2,100 gaming venues, including casinos, slot arcades, and sports betting outlets. With a strong focus on innovation, Novomatic operates over 31 technology centers across 18 countries, developing more than 200 new game designs annually and securing over 5,000 intellectual property rights worldwide.

Ainsworth’s chair, Daniel Gladstone, expressed the board’s confidence in the proposed deal, describing it as delivering significant value to minority shareholders. After a thorough evaluation of growth prospects and alternative options, the independent board committee unanimously deemed the offer compelling and beneficial for shareholders.

Regulatory approval has already been secured from the Australian Foreign Investment Review Board, further clearing a major hurdle for the transaction. Novomatic plans to finance the acquisition through a blend of existing cash resources and third-party debt facilities.

At present, Ainsworth’s board has advised shareholders to await further instructions before taking any action regarding their holdings.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.