Ainsworth Game Technology, the Aboriginal Australian gaming gimmick maker, is considering sledding private, which would result in removing its shares from the Commonwealth of Australia Stock Exchange (ASX).
In a filing with Aussie securities regulators, the gaming society revealed that it’s considering strategical alternatives and that it’s hired Macquarie Capital to assist with that process, which is allay in its shaping stages.
The appendage will look to go over and assess all strategical alternatives which could assist the company inwards maximising shareholder value,” according to a financial statement issued by Ainsworth. “The strategic brushup testament include a liberal straddle of potentiality organic fertilizer and inorganic alternatives and in that respect put up live no pledge that any dealing will result.”
The fellowship added that, as of yet, it has non received inquiries from other companies virtually taking it private.
“The companionship remains committed to impulsive sustained, long-term ontogeny through and through delivering on our production strategy and continued investments inwards search and development,” added the expansion slot simple machine manufacturer.
Ainsworth Adds to Slot Machine M&A Speculation
To date, at that place hasn’t been often inwards the way of confirmed deals, but analysts trust the one-armed bandit machine is ripe for consolidation. Ainsworth could participate inward that trend.
There are tailwinds for gaming gimmick manufacturers. Those include consumers remaining dedicated to casino visits, which provides operators with much-needed resiliency. Additionally, analysts believe render strand pressures in the manufacture are easing.
Specific to Ainsworth, the companion could be an attractive target for suitors looking for for an acquisition owing to its Second Earl of Guilford America presence, which includes an expanding explore and development footmark in Las Vegas, as advantageously as opening night unexampled studios inwards Lone-Star State and Mexico.
For the half dozen months conclusion June 30, Ainsworth’s North American sales jumped 13% on a year-over-year fundament with the region accounting system for 48% of the company’s sales. That coupled with revenue increases inwards Asia and New Sjaelland helped offset printing some weakness inwards the company’s home market.
Who Could Be Interested inwards Ainsworth?
As Ainsworth noted in the regulatory filing, it has in time to keep talks with other companies regarding privatization. There’s venture that Australia-based gaming simple machine manufacturer Novomatic would follow the to the highest degree logical wooer for Ainsworth.
Via a 2018 transaction, Novomatic became the majority possessor of Ainsworth. Additionally, Ainsworth CEO Harald Neumann antecedently served as an executive at Novomatic prior to taking the upper side distinguish at Ainsworth. Those factors could fuel speculation nigh a combination. At the really least, any stuff dealings involving Ainsworth would require the commendation of Novomatic.
Spheria Asset Management, Allan Gray, REST, and HESTA are among Ainsworth’s other big investors. There’s no more word yet on whether or not they favour the keep company going private.
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