Novomatic Continues Expansion with Casinos Austria SharesPublished August 2, 2015 by Florin P
Novomatic acquires more Casinos Austria shares to strengthen its position in Austria
Novomatic was founded in 1980 and over the next three decades it became one of the most important integrated global gaming companies. It provides online casinos from well regulated markets with innovative slot machines, table games and video poker. Austrian players have always been at the cornerstone of their programs and they will remain in the spotlight, as the software developer consolidates its presence within borders.
Novomatic Increases Stake in Casino Austria
Casino Austria is a huge gaming corporation that was founded back in 1967 and it is partially owned by the state. Since its inception, it opened a dozen casinos which are now scattered all over Austria and that’s what caught the eye of Novomatic. The software developer seems ready to expand to land-base gambling after making a name for itself in the competitive online industry.
Their plan is straightforward and likely to succeed, as Novomatic has submitted offers to MTB Privatstiftung and Leipnik-Lundenburger Invest Beteiligungs. In conjunction, these companies own shares worth more than a 28% stake in Casinos Austria and it looks like both offers were accepted. Negotiations are under way, but the wheels are in motion and the software developer is willing to acquire even more shares if they become available.
The Austrian Market Grows at a Steady Pace
It is no coincidence that Novomatic chose to consolidate their position in Austria, as the local market is growing at an accelerated pace and offers lucrative deals. The online niche is highly contested, with several online casinos including big names like BETAT Casino and All Slots Casino catering for local players.
The software developer is a prominent actor on this stage, with its visibility further enhanced by the deal signed with Niki Lauda. The three-time Formula 1 World Champion is their new ambassador and his presence should help tighten the bond between Novomatic and Austrian big land-based operators.