Novomatic offer splits Ainsworth family as revenue soars in H1 2025
Len Ainsworth’s family, the founder of Ainsworth Game Technology, is trying to prevent a proposed takeover of the Australian gaming company by its majority shareholder, Novomatic, prompting concerns about the AU$ 158.6 million (€96.4 million) deal’s future.
Reportedly, Kjerulf Ainsworth, the sixth son of Len Ainsworth (as depicted in featured image) and the company’s second-largest individual shareholder with a 12 percent stake, stated that he is collaborating with his mother to prevent the acquisition.
Speaking to the Australian Financial Review, he asserted that there is strong dissatisfaction among shareholders.“We’ve got money to go and throw some serious punches,” he said. “It’s hard not to be motivated if you see two- or three-dozen shareholders all getting stiffed.”
Novomatic eyes 100% stake in Ainsworth
Novomatic, an Austrian gaming group, currently holds 52.9 percent of Ainsworth’s shares and is aiming to purchase the remaining stock at AU$ 1.00 per share. Despite the opposition, Ainsworth’s board has reaffirmed its support for the proposal. In a statement to the Australian Securities Exchange (ASX), the company said it continues to recommend that shareholders vote in favour of the deal, provided no superior offer arises.
While the ownership debate unfolds, Ainsworth has reported improved financial performance. The company said it expects revenue for the six months ending 30 June 2025 to rise by around six percent compared with the same period last year.
The growth has been mainly driven by increased domestic sales in Australia, helped by the successful launch of the Raptor slot machine cabinet in February 2025.
Revenue forecast splits the family?
Ainsworth is forecasting a profit before tax of approximately AU$ 14.0 million (€8.5 million), which is broadly in line with the AU$ 14.3 million (€8.7 million) reported during the same period in 2024. Underlying EBITDA is expected to remain close to the AU$ 26.8 million (€16.3 million) recorded last year.
Segment margins are projected to remain generally stable. Gains in the Australian market are expected to balance lower margins in Latin America and Europe, where revenue is anticipated to fall by 14 percent due to ongoing import restrictions in Mexico. Revenue in North America is forecast to remain flat year-on-year.
The company said research and development investment will be maintained at approximately 17 percent of total revenue. Chairman Danny Gladstone described the result as being in line with expectations, crediting earlier strategies to boost domestic revenue while navigating difficult international conditions and higher operating costs.
