Novomatic AG has again extended the deadline for its takeover bid for Ainsworth Game Technology Limited, setting February 6, 2026, as the new and final closing date for the offer. The extension, confirmed in regulatory filings lodged on January 30, marks the third time the Austrian gaming equipment supplier has revised the timetable for its attempt to acquire full ownership of the Australian-listed slot machine manufacturer.

The latest change applies to Novomatic’s off-market takeover bid under Chapter 6 of Australia’s Corporations Act 2001, which seeks to purchase all Ainsworth shares it does not already own. According to the notice of variation submitted to regulators, the offer will now remain open until 7:00 pm Sydney time on February 6, unless it is withdrawn earlier. Novomatic stated in the filing that no further extensions would be granted beyond this date.

Offer Timeline and Regulatory Filings

In a formal letter (pdf) lodged through the ASX Market Announcements Office, Novomatic confirmed that it had varied the offer period originally set out in its bidder’s statement dated September 3, 2025. The notice was also lodged with the Australian Securities and Investments Commission on January 30 and distributed to Ainsworth and eligible shareholders in line with statutory requirements.

The bid had previously been scheduled to close at 7:00 pm Sydney time on January 30. By extending the deadline, Novomatic has given shareholders additional time to decide whether to accept the cash offer, while also drawing a line under what has been a prolonged and, at times, uncertain acquisition process.

Novomatic’s offer remains unchanged in value. The company is offering AUD1.00 per share in cash for the remaining shares in Ainsworth that it does not already control. The bid was declared unconditional when it was announced in August 2025.

Novomatic enters the final phase of the takeover process as Ainsworth’s dominant shareholder. According to an ASX filing dated January 28, Novomatic and its founder and owner, Johann Graf, together control 66.59% of Ainsworth’s issued share capital. That level of ownership has underpinned the group’s confidence in pursuing the acquisition to completion.

In mid-September, Ainsworth disclosed that an independent board committee formed to assess the takeover proposal had “unanimously” recommended that shareholders accept Novomatic’s offer. The committee concluded that the bid provided certainty of value for shareholders, particularly in light of Ainsworth’s operating and market conditions.

Despite that recommendation, the transaction has faced resistance from certain shareholders, including members of the Ainsworth family, contributing to delays and extensions.

Competing Bid and Shareholder Opposition

Alongside Novomatic’s bid, a separate and more limited proposal emerged in late 2025. Kjerulf David Hastings Ainsworth, a son of the company’s founder, made a proportional off-market offer to acquire 2.9% of each shareholder’s holding at a price of AUD1.30 per share. While higher on a per-share basis, the offer applied only to a small portion of each investor’s stake.

Ainsworth disclosed that Novomatic did “not intend to accept” that competing proposal. In a subsequent filing, the company reiterated that position, noting that Novomatic’s existing majority interest meant it would reject the proportional offer. Kjerulf Ainsworth later extended his own offer deadline to January 30, aligning it with the earlier closing date of Novomatic’s bid.

Had the proportional offer been accepted by shareholders other than Novomatic, it could have resulted in Kjerulf Ainsworth increasing his stake to approximately 8.1%. With that offer now closed and Novomatic declining to participate, attention has returned fully to Novomatic’s full takeover bid.

While the ownership contest has played out, Ainsworth’s underlying business has faced challenges. In December, the company told the market that it expected pre-tax profit and revenue in the second half of the financial year to fall compared with the first half, with declines of 45.3% and 11% respectively.

The company has also experienced leadership disruption. In November, Ainsworth’s chief executive officer Harold Neumann resigned after a Nevada regulator rejected his application to renew his gaming licence. The resignation followed reports earlier in 2025 that Neumann had been under investigation by Austrian authorities for several years in connection with corruption allegations. Neumann had previously served as Novomatic’s chief executive before stepping down from that role in 2020.