A significant shift in the ownership structure of Ainsworth Game Technology Ltd has been finalized, as Kjerulf Ainsworth, son of the company’s legendary founder Len Ainsworth, has successfully increased his holding to 8.35% of ordinary shares.
This development follows the formal conclusion of a proportional off-market offer on April 27, which was designed to acquire 5.5% of each existing shareholder’s holdings. The details were officially disclosed in a filing submitted to the Australian Securities Exchange (ASX) on Tuesday.
Strategic Resistance and Failed Takeovers
When Mr. Ainsworth first initiated his bid in early March, his interest in the slot machine manufacturer stood at 8.17%. By offering a price of AUD 1.30 per share, he sought to bolster the influence of minority shareholders. Currently, the majority owner remains the Austrian gaming giant Novomatic AG, which retains a 67.39% stake after failing in its own objective to take the company private.
Novomatic had launched an unconditional takeover bid at AUD 1.00 per share in August 2025, seeking a 75% threshold for delisting. However, that offer expired in February 2026 without reaching its goal. Kjerulf Ainsworth has been a vocal opponent of the Novomatic buyout, maintaining that the offer significantly undervalued the company, especially during a challenging financial period.
Regional Performance and Future Outlook
Despite the company reporting a net loss for the 2025 fiscal year, it has seen remarkable success in the Asia Pacific region, where both revenues and profits have trended upward. As the internal tug-of-war between Novomatic and minority interests like Mr. Kjerulf Ainsworth continues, the firm’s ability to maintain this regional operational success will be critical.
For now, the manufacturer continues to operate under a volatile ownership structure that reflects the broader complexities of the global gambling equipment market.
