Ainsworth Game Technology, a prominent Australian casino machine manufacturer, is considering the possibility of exiting the Australia Stock Exchange in search of strategic alternatives. This decision comes after nearly a year of the company resuming dividend payments to its shareholders.
The company announced its plans in a filing to Australian authorities on Monday, stating that it is exploring opportunities to potentially go private. As part of this process, Ainsworth will review its assets and consider various alternatives, with the aim of maximizing shareholder value.
To support the review, Ainsworth has enlisted the assistance of Macquarie Capital, a prominent business consultancy. The company emphasized that the review process is still in its early stages, and it will be considering both organic and inorganic alternatives, although it cautioned that there is no guarantee that a transaction will occur.
In a statement, Ainsworth reiterated its commitment to driving long-term growth through its product strategy and ongoing investments in research and development.
Amid a challenging period for slot manufacturers, with many companies experiencing stock struggles, analysts anticipate an increase in merger and acquisition activity in the sector as a potential catalyst for the revitalization of slot machine stock.
Given Ainsworth’s strong presence in North America, there is speculation that the company may receive acquisition offers from entities interested in the region. Some industry insiders have also raised the possibility of a takeover by Novomatic, one of Ainsworth’s largest shareholders. However, Ainsworth clarified that no offers have been made at this time, and there has been no agreement with a potential buyer.