Novomatic’s Takeover Bid for Ainsworth Game Technology Falls Through

Novomatic’s attempt to acquire the remaining shares of Australia-listed Ainsworth Game Technology has failed. The Austrian gaming technology giant, which already holds a significant stake in Ainsworth, had launched a takeover bid aimed at consolidating full ownership. However, the proposal did not secure sufficient shareholder support to proceed. As a result, Ainsworth will remain independently listed on the Australian Securities Exchange.

The failed bid underscores ongoing valuation gaps in the global gaming supplier sector. While Novomatic continues to pursue international expansion and vertical integration strategies, minority shareholders appear unconvinced that the offer adequately reflected Ainsworth’s long-term potential, particularly as land-based gaming markets stabilise post-pandemic and digital convergence accelerates.

From an industry perspective, several key themes emerge:

• Strategic consolidation remains active, but pricing discipline is tightening.

• Shareholder activism is increasing in publicly listed gaming tech firms.

• Technology and content pipelines remain core to supplier valuations.

For Asia-Pacific markets, where slot supply, content localisation and regulatory approvals remain critical, ownership clarity can influence partnership dynamics. Novomatic retains its strategic stake, meaning operational collaboration is likely to continue — but full integration ambitions will have to wait.

The episode highlights a broader point: M&A in the gaming supply chain is no longer just about scale — it’s about shareholder alignment and long-term digital strategy.