Status of Head of Terms between NOVOMATIC and Ainsworth
Gumpoldskirchen, 12 January 2017 (OTS) – In the process of NOVOMATIC AG (“NOVOMATIC”) obtaining minority shareholders’ approval for the acquisition of approximately 53% of the ordinary shares in Ainsworth Game Technology Ltd (“AGT”) held by Mr LH Ainsworth, several head of terms were signed.
Those that became effective upon the minority shareholders’ approval at the Shareholders Meeting (GM), which took place in June 2016, are progressing well. AGT Chief Executive Officer, Danny Gladstone, announced today: “Our respective game design departments continue to work hard on the exchange of game assets to successfully integrate NOVOMATIC’s successful games onto our platforms and vice versa. I am happy to say that the cooperation is working very well and we are looking forward to the positive prospects of the future relationship.”
The online gaming license agreement between Greentube Internet Entertainment Solutions GmbH (“GREENTUBE”), a 100% indirect affiliate company of NOVOMATIC, and AGT has concluded. This will enable the distribution of AGT’s slot games using AGT’s remote gaming server via the GREENTUBE supplied online casinos within the Americas and Europe. In addition, AGT has entered into a license agreement which enables AGT the use of the Novo Remote Gaming System (powered by GREENTUBE) for faster distribution of AGT slot games in various European markets.
NOVOMATIC UK LTD, the exclusive distributor of Ainsworth products in Europe, has placed orders to complete the purchase of 1,000 gaming kits as per the head of terms in AGT’s 2017 financial year for the European market. As part of the agreement, an additional 1,000 gaming kits will be ordered in AGT’s 2018 financial year. NOVOMATIC Chief Executive Officer Harald Neumann has emphasized that in the short period since the GM, the two companies have not only significantly realized the head of terms, but also the strategic planning for their shared future once NOVOMATIC becomes the majority shareholder of AGT. Mr Neumann is, therefore, looking forward to joining AGT’s Board in February 2017. Both companies are currently undergoing the required gaming authorities’ licensing approvals before completion of the acquisition.
The NOVOMATIC Group is one of the biggest international producers and operators of gaming technologies and employs more than 28,000 staff worldwide. Founded by entrepreneur Professor Johann F. Graf in 1980, the Group has locations in more than 50 countries and exports high-tech electronic gaming equipment and solutions to 80 countries. The Group operates more than 235,000 gaming terminals in its some 1,600 plus gaming operations as well as via rental concepts.
Through its numerous international subsidiaries, the NOVOMATIC Group is fully active in all segments of the gaming industry and thus offers a diversified Omni-channel product portfolio to its partners and clients around the world. This product range includes land based gaming products and services, management systems and cash management, online/mobile and social gaming solutions as well as lottery and sports betting solutions together with a range of sophisticated ancillary products and services.
Ainsworth Game Technology is a premier manufacturer of global gaming products committed to a culture of quality, innovation and excellence. Ainsworth distributes a range of gaming products, entertaining standalone progressives and linked games through its sales offices and distributors in Australia, New Zealand, Asia, USA and Europe. Ainsworth is an Australian publicly listed company (code: AGI) headquartered in Newington, Sydney, Australia.