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Novomatic Group With A Public Report That They Will Be Exiting The German Market

NightElf
11.01.2018 23:11
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Novomatic Group Exiting The German MarketAt the very end of 2017, Novomatic Group AG makes a public report that they will be exiting the German market in December at the end of the month. As for the main reason the gaming equipment supplier indicates, it is that they wanted to see bigger accuracy from the German authorities regarding the online gaming.
 
The news leaks last month, right after Greentube.com which is Novomatic Group’s subsidiary received a command from German authorities that casino site needs to cease offering Novomatic Group -produced games as of 29 December 2017.
 
The decision for the exit came as an unexpected shock to the whole gaming industry after Novomatic Group has already alluded to the country as its "most significant" market. A Novomatic Group’s representative says: that there was a clear need for German regulators to revamp online gambling regulation as the current situation was “unclear”.
 
The organization clarified that the main purpose of this outcome was because some gaming content providers for the German market have been illegitimate accepting Novomatic Group digital products without having first secured agreement from the company.
 
The international news agency, Reuters reported: “Gambling technology group Novomatic Group  - NVMTC.UL said it has put plans for an initial public offering on hold due to uncertainty over new regulation in one of its most important markets, Germany”.
 
Also that Novomatic Group has now shelved plans for a €5bn initial public offering on the Frankfurt bourse due to uncertainty about new regulations regarding land-based gaming halls in the region.
 
However, the international gambling company, founded by the billionaire Johann Graf-Novomatic Group has now finished the buying of 52% legal shares in a gaming machine developer, designer and manufacturer and games combination software and other related equipment for the gaming industry in Australia Ainsworth Game Technology.
 
The Novomatic Group had already finished gaining the bigger part stake for more than €300 million, but they need approval from regulatory bodies in various regions.
 
This is the largest purchase of stakes that company from Austrian is made in Australia in Ainsworth Game Technology at more than EUROS 300 million.
 
Harald Neumann, Novomatic’s Chairman, stated: “The compliance investigations carried out as part of this registration were extremely thorough; they included all corporate divisions of Novomatic AG.
 
“Our shares in Ainsworth are strategically very important for Novomatic; after all, the joint plan is to increase market share in the US to about 10% over the next five years. In the long-term, Novomatic may become the world market leader in the area of gaming.”
 
However, the Novomatic Group is one of the leading international operators and producers of gaming technologies and they had more than 25,000 employees all over the world. It is founded in 1980 by entrepreneur Professor Johann F. Graf. The Novomatic Group has premises in 45 countries and offers high tech electronic gaming equipment and solutions to more than 70 countries, with more than 260,000 gaming terminals and video lottery.
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