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Kjerulf Ainsworth, the son of Ainsworth Game Technology Ltd founder Len Ainsworth, now holds 8.35% of the company’s ordinary shares. This update follows the formal conclusion of his proportional offer on 27 April, which sought to acquire 5.5% of each existing shareholder’s ordinary shares. The information was disclosed in a filing submitted by the slot machine manufacturer to the Australian Securities Exchange on Tuesday.
When Mr. Ainsworth initiated his off-market bid in early March, he held an 8.17% interest in the organization. At that time, his offer was set at a price of AUD 1.30 per share. It is worth noting that this particular proposal represented the second proportional offer Mr. Ainsworth had made regarding shares in the company. As of this past Monday, the primary shareholder remains Novomatic AG, an Austrian gaming equipment manufacturer, which currently retains a 67.39% stake in Ainsworth Game Technology.
The background of these recent ownership shifts is rooted in events from last year. In August 2025, Novomatic launched an unconditional takeover bid at a price of AUD 1.00 per share for all outstanding shares it did not already control. The core objective of this bid was to increase its total holdings to a 75% threshold, which would have allowed the firm to take the business private. Nevertheless, the deadline of this offer came to an end in February 2026 without Novomatic fulfilling its desired objective. Even after making the effort, the firm fell short of meeting its targeted percentage. It only achieved 67.4% of the shares in the manufacturer.
Throughout the process, Kjerulf Ainsworth had expressed clear opposition to the buyout proposal presented by Novomatic to minority stockholders. His stance remained strong since he felt that the offer was too low for the company. All these happened during the tough financial era of the business.
In February, the company indicated that it was running at a net loss for the entire 2025 fiscal year. Although the firm made a loss in general for the year, it recorded impressive gains in the Asia Pacific region. Its revenues and profits witnessed a substantial increase there.
Ownership Structure and Future Prospects
With the existing shareholding of Novomatic not being able to secure enough shares that will lead to the delisting of the company, and at the same time, with Mr. Ainsworth increasing his hold, we are witnessing the continuation of the struggles and strategies with regard to the future plans for the company.
At the moment, the company is functioning in accordance with its ownership structure while facing the volatility typical for the gambling industry. In light of the performance of the manufacturer in the coming period, the relationship between the majority stockholder and other minority stockholders, such as Mr. Ainsworth, may be of interest to the public.
It is crucial for the firm to concentrate on achieving its operational success in spite of the challenges faced during the previous year, particularly considering the company’s positive results in certain regions such as the Asia Pacific.
Source: GGR Asia
