Novomatic Presents Revised Offer to Acquire Ainsworth Game Technology
Novomatic Submits a Renewed Acquisition Proposal for Ainsworth
Recently, Novomatic responded to criticisms from key stakeholders of Ainsworth Game Technology (ATG) who felt that the initial takeover offer undervalued the company. In light of the feedback, Novomatic has come forward with an improved and unconditional offer for ATG.
Details of Novomatic’s Unconditional Takeover Offer
Novomatic, a leading European gaming corporation, proposed to acquire all remaining outstanding shares of ATG that it does not already own. The company set the purchase price at AUD 1 per share, which translates into an approximate total offer of AUD 158.6 million (around $104 million USD).
This takeover bid has been declared final by Novomatic and was confirmed by ATG ahead of its first-half 2025 earnings announcement. Moreover, ATG indicated that Novomatic has waived any conditional requirements, making this a fully unconditional offer.
Previous Opposition from Ainsworth Shareholders
Novomatic’s revised offer follows reports that significant shareholders of ATG previously opposed an earlier bid from Novomatic. This coalition of investors, including a member of the founding family, felt that the initial proposal did not reflect the true value of ATG despite independent assessments that rated the previous offer as fair.
Despite that prior resistance, ATG appears positive about the updated unconditional proposal. The company has advised its shareholders to support Novomatic’s current bid unless a better offer emerges.
ATG’s Mixed Financial Performance in H1 2025
Meanwhile, ATG released its financial results for the first half of 2025, showing revenues of AUD 152.1 million ($98 million), representing a strong 22.4% increase compared to the same period last year. This growth reflects ATG’s recovering strength in the Asia-Pacific markets.
However, the earnings before interest, taxes, depreciation, and amortization (EBITDA) fell sharply to AUD 14.6 million ($9.4 million), a 63.5% decrease from the previous year’s AUD 40 million. Additionally, net profits suffered a decline, with profit before tax dropping 163% to AUD 1.6 million ($1 million), and profit after tax decreasing to AUD 4.9 million ($3.2 million).
While ATG maintained strong performance in North America and saw recovery in Asia-Pacific, it struggled to achieve positive results in the Latin American and European markets.
