Novomatic isn’t backing down in its push to take over Ainsworth Game Technology (AGT), giving shareholders until 3 December 2025 to accept its AU$1.00-per-share offer. The deadline extension, confirmed in a recent ASX filing, adds another chapter to a takeover saga that’s been months in the making — and still far from over.
Power Play Between Novomatic and Ainsworth Heir
The Austrian gaming giant already controls 61.5% of AGT after steadily buying shares since April. But its path to full ownership has hit resistance, led by Kjerulf Ainsworth, son of the company’s founder, Len Ainsworth. Kjerulf and a minority group of shareholders argue that Novomatic’s offer undervalues AGT, especially its U.S. operations.
He’s now countering with a partial bid of his own: AU$1.30 per share for up to 2.9% of each shareholder’s stake. If successful, he’ll boost his holdings from 7.27% to 9.9%. Novomatic has already refused to participate in the rival offer, minimizing its impact but not the message — Ainsworth isn’t ready to hand over the keys just yet.
Independent Advice Leans Novomatic
Despite the internal tension, AGT’s independent board committee has recommended shareholders accept Novomatic’s bid, citing its premium over recent trading prices and the certainty of an all-cash deal. An independent expert backed the committee’s view, calling the AU$1.00 offer “fair and reasonable.”
For average investors holding AGT shares — especially small-scale retail shareholders — the choice is between guaranteed liquidity now or betting on future growth under the Ainsworth family’s influence. If you’re just looking to cash out and move on, Novomatic’s offer ticks the box.
Leadership Shake-Up Clouds the Deal
The takeover hasn’t been helped by drama in the C-suite. AGT’s former CEO Harald Neumann, once a key figure in the Novomatic-Ainsworth deal, resigned after the Nevada Gaming Control Board raised red flags during his license review. Allegations included misleading investigators, withholding phone records, and hostile behavior during questioning. Neumann denies the claims, but the damage was done.
With Neumann out, COO Ryan Comstock has stepped in as acting CEO, but the change adds another wrinkle to an already tense situation.
What This Means for Casino Players
While the boardroom battle might seem far removed from everyday casino players, the long-term outcome could shape AGT’s future product development. If Novomatic takes full control, expect tighter integration into its global gaming portfolio — potentially affecting what slot titles and machines show up at both brick-and-mortar and online casinos.
If Ainsworth’s faction holds more sway, AGT might continue on a more independent path, possibly keeping a stronger focus on Australian and U.S. markets with its own roadmap.
For now, all eyes are on 3 December — the next key date in a takeover that refuses to fold.
