Poker machine and gaming manufacturer Ainsworth Game Technology has bought US-games developer MTD Gaming Inc for an initial consideration of US$13 million.
The Sydney company will pay an additional US$13 million to MTD’s private owners on the delivery of financial targets and contract renewals.
Ainsworth, founded by Len Ainsworth who started the world’s second-largest gaming company, Aristocrat Leisure, bought MTD to target its unique poker, keno and video reel content in markets already served by Ainsworth.
MTD has sold its multi-game and video lottery content in Montana, Louisiana and more recently South Dakota.
Ainsworth will now target gaming venues in Nevada, California, Arizona and New Mexico.
MTD president Dan Tessmer said: “We are excited to join the Ainsworth team and feel that the synergies of this acquisition will be of great value to both MTD and Ainsworth customers.”
Ainsworth CEO Lawrence Levy said the acquisition was a positive step in transitioning the company to growth and improved profitability.
Levy said: “We expect to drive incremental revenues by offering these proven and highly successful games to customers in our established markets where Ainsworth operates.”
The acquisition is fully funded by cash reserves and existing debt facilities.
Picture: MTD Gaming
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