Novomatic set to surpass €4bn revenue mark in 2016

Novomatic has said in a preliminary results posting that it expects to achieve more than €4 billion ($4.2 billion) in combined revenues for the first time, for fiscal year 2016.

Harald Neumann, chief executive of the company, said preliminary calculations place revenue from the core Novomatic AG business at around €2.3 billion, up 10% on the previous year.

The combined group revenue includes Swiss sister holding companies, Gryphon Invest AG and ACE Casino Holding AG, and is expected to come in at €4.4 billion for the full year.

The firm said that it was able to reach the record revenue level due to growth in its core markets of the UK, Germany, Spain and Italy, with plans now in place to pursue expansion opportunities in South America, the US, Australia and Asia during 2017.

Novomatic cited its acquisition of a majority stake in Australian firm Ainsworth Game Technology as an “important lever” for the development of these markets.

“In this short time, we have already made significant progress and begun the strategic planning process for our joint future after Novomatic becomes Ainsworth’s majority shareholder,” Neumann said.

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