In 1953, Len Ainsworth started Australia’s first poker machine manufacturing business which has evolved into an international gaming empire over the years. Now, he has decided to cash out his chips by selling his 53% stake in Ainsworth Game Technology. Now, Austrian gaming provider Novomatic will take over his share of the company while Len focuses on philanthropic efforts.
Len has received an impressive $473 million windfall from the sale of the stale. He has stated that a large portion of the profit will be donated to healthcare research and he will also share the wealth family members. Ainsworth has a long history of generosity. In 1994, he gifted his stake in Aristocrat Leisure to his ex-wife and sons.
In 2015, he donated $5 million to St Vincent’s Private Hospital, jumpstarting a $115 million redevelopment of the medical centre. Over the years, he has donated more than $30 million to medical research in Australia. “I think medicine and universities would be the target,” he says. “If you can find a cure to something, that is a big prize in itself”. Novomatic is pleased with the acquisition of Ainsworth’s stake in the company.
Over the years, Ainsworth has become a leader in gaming machine technology – a field in which Novomatic specialises. There is no word yet on Novomatic’s plans for Ainsworth – but, the developer could take the company in a whole new direction. “Ainsworth is iconic and we are delighted to become substantial shareholders in the company,” says Johann Graff, founder of Novomatic.
This is a very exciting development for the world of gaming machine manufacturing. We are sure that bringing Novomatic and Ainsworth together will result in some exciting innovations for pokies and poker machine technology around the world.
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