Novomatic Leaves Online German Market & Completes Ainsworth Deal
Novomatic the giant Austrian Based Gaming Supplier has announced that it pulled out from the online German gaming market at the end of 2017. The company also said that some online providers were using their content in Germany illegally without first reaching an agreement to do so by Novomatic.
The move out of the German market by Novomatic is a surprise but the firm said that without the country having greater regulatory clarity by the government it can not work in the market.
The firm has asked the government in Germany several times for a “significantly tougher… framework” for the gaming industry. Novomatic in the past has referred to the German market as its “most important” business.
On the back on the move out of the German market the company which had planned to move the business into the public domain with an IPO worth around €5bn, has now shelved those plans for the foreseeable future.
In more positive news for the company Novomatic has now completed the acquisition of the majority stake in Australian Gaming Machine manufacturer Ainsworth for €300 million which represents a 52% stake in the firm.