Len Ainsworth sells his stake
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Along with its 2016 first half result, Ainsworth Game Technology announced that Len Ainsworth has sold his 53% stake to Austrian gaming giant Novomatic for $2.75 per share. The sale is subject to shareholder approval at an upcoming extraordinary general meeting.
While the result was generally a good one — although we'd have preferred higher Australian sales — the departure of Len from Ainsworth's register is equally important.
The company is hosting a conference call this morning and competitor Aristocrat is holding its AGM later today. As such, we'll have more on Ainsworth's result and the impact of Len's departure from the register once we've participated in each event. For now, though, we're placing it UNDER REVIEW.
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