Ready to sail…Novomatic private owners seek advice on IPO

Reuters UK has reported that the private owners of Novomatic Group are exploring a corporate initial public offering that could value the gambling machine manufacturer and industry systems provider at €6 billion (£5.3 billion).

The Vienna-based private company is reported to have hired Australian investment bank Macquarie Group as corporate advisor, with stakeholders eyeing a floatation on London or Frankfurt exchanges.

Founded in 1980 by Austrian businessman and majority shareholder Johann Graf, Novomatic reported group revenues of €3.9 billion with corporate of EBITDA €290 million for its full-year 2015 performance.

In 2016, the gambling technology firm expanded its global operations by through M&A, acquiring a controlling stake in Australian gaming machine manufacturer Ainsworth Game Technology (AGT) and further purchasing, Tatts Group offload of UK arcade operator Talarius for £110 million.

At present the company employs circa 28,000 staff worldwide, operating 50 international offices. Novomatic governance is stated to want to increase the firm’s global footprint in the developing markets of Asia and Latin America.

Reuters further details that Novomatic owners are potentially open to other possibilities including the sale of the company to private equity firms.