Austrian giant Novomatic is pulling out of its proposed initial public offering although the company has only stated that it is putting its plans "on hold".
This is because of uncertainty over new regulation in Germany, which is one of its major markets.
The company had been scheduled to publish officially its intention to float on the Frankfurt stock exchange this week, but now says it is no longer expecting to list in 2017, without adding any more information.
The group is estimated to be worth €5bn but the current imposition of an interstate treaty on arcades and cutbacks on machines on location in Germany (well documented in the pages of InterGame over the past two years) has dissuaded the group from proceeding for now.
The company cited the problems in Germany, plus tax rises in Austria, as the main reasons for a 29 per cent drop in its first half-yearly results.
