Ainsworth Gaming Technologies is to buy Nova Technologies, a small South Carolina-based slot machine company for $38m in a deal due to be concluded early this year.
Company CEO Danny Gladstone said the acquisition would complement Ainsworth's current operations and expand its presence within the Indian gaming market. This purchase will be the third within the last 13 months of a Class II slot machine company by a traditional manufacturer.
Last year, Australia-based Aristocrat Technologies spent $1.3bn to purchase Video Gaming Technologies. In May, American Gaming Systems bought Cadillac Jack for $382m.
"Nova was one of the few remaining Class II providers that hadn't been acquired," Eilers Research founder Todd Eilers told investors. Class II games have a different set of characteristics that separate the devices from traditional Las Vegas-style slot machines. The Indian Gaming Control Act provides a set of regulations and rules governing their use. The games are managed by a central server. The machines often incorporate electronic versions of bingo or slot games that pit player versus player.
