Novomatic Setting Regulatory Compliance Standards

Published Saturday, September 01, 2018 - Online-Casinos.com
Novomatic Setting Regulatory Compliance Standards

An international gambling company like Novomatic founded by the billionaire entrepreneur Johann Graf back in 1980 has set strategy standards for betting enterprises looking for a model for success for a number of years. The company has offices in 43 countries and also operates a number of casinos in locations such as Berlin Germany and Santiago, Chile. The Novomatic Group is made up of three holding companies. The firm has been utilizing acquisitions to facilitate its tremendous growth. As an example in June of 2016, Novomatic bought the UK gambling company Talarius from Australian company Tatts Group.

From its headquarters in Austria Novomatic has recently gained regulatory approval for the purchase of approximately 52% of the Australian gaming company Ainsworth Game Technology Limited (AGT). The purchase was carried out with the approval from authorities, including the Nevada Gaming Commission in Las Vegas, Nevada USA.  Novomatic is now one of the few European Union located firms to have passed strict compliance checks from the international authorities. For this reason, a variety of independent licensing boards underwent long probity investigations into the acquisition deal.
Novomatic Chief Executive Officer Harald Neumann commented, “This pleasing result confirms our strategy of consolidating our market leadership in existing markets and of opening up new markets and technologies through acquisitions… The focus is on optimising internal processes and structures across borders.”

Neumann said this about the deal, “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.”

It is clear that Novomatic Group has its sights set on growth through strategic purchasing and the global approach to regulatory compliance. In a trading update, Novomatic said it is “noteworthy” that its earnings before tax, “despite investment-intensive regulatory challenges in Germany and Italy”, had increased by 23% to €148.4m.

 

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