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And he's clearly feeling pleased with himself. Given Ainsworth's status as the world's oldest pokies magnate, there have been no shortage of suitors lining up over the years with offers to buy his stake. While Ainsworth steadfastly refused to budge, the privately-held Novomatic played a masterful long game.

The Vienna-based gaming giant, the second largest poker machine maker globally, started its pursuit of Ainsworth in early Worried about the growing problem of gambling addiction, politicians in Austria and Germany had started to impose new regulations on pokie and casino operators forcing Novomatic to look offshore to keep growing its revenues.

By submitting your email you are agreeing to Fairfax Media's terms and conditions and privacy policy. Johann Graf, Austria's fourth richest man, dispatched his son Thomas Graf and gaming executive Jens Halle to Sydney to Ainsworth's modest Silverwater headquarters to test the waters for a possible sale.

Graf, dubbed "Deus ex Automatica" meaning God of the Slot Machines by his staff, had been enormously successful in conquering large swathes of Europe with a mixture of pokies, casinos and lottery terminals.

But they made their intentions known. The talks were constructive, but momentum stalled. Ainsworth Game Technology was making a big push into the US market and corporate consolidation was shelved. By late Halle had moved on to join Novomatic's rival, the Gauselmann Group, and Ainsworth assumed that spelt the end of the buyout discussions.

It took another poaching — this time from right under Ainsworth's nose - for Graf's Novomatic to get back into the game. Within weeks Dijkstra had re-established contact with Ainsworth and invited him to Vienna for a tour of the Novomatic business empire. Ainsworth agreed to a visit, but on his terms.

He was already planning to attend the ICE conference in London in the first week of February and would meet Graf immediately prior in the Austrian capital. Ainsworth boarded a Singapore Airlines flight to London checking into the 5-star Hotel Sacher, filled with 19th century artworks and adjacent to the Vienna State Opera.

Periscope +18 İFŞA HATUN

Ainsworth took in a whistlestop tour of Graf's offices in the suburbs of Vienna followed by a trip to the Czech Republic where Novomatic assembles its machines. Several lunches and a private dinner with Graf and a member of his advisory board laid the groundwork for a deal.

Ainsworth had no bankers or advisers with him on the trip, but stayed in constant touch with his long-time confidante Stephen Cohn, a former finance director of Aristocrat Leisure, who provides counsel to the pokies veteran on his investments.

Its very clear cut.

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I knew it was the right fit for me. While a handshake between the two gaming gurus indicated a deal was on the cards, details still needed to be flushed out. Despite his private persona, Graf was hard to miss. Gladstone immediately rebuffed the offer. With Novomatic spinning off plenty of free cash, both Gladstone and Ainsworth knew there was plenty more firepower available.

Ainsworth decided to keep the details private until AGT released its half year results on February While the deal has been three years in the making, Ainsworth reckons it may be another year before it is sealed for good with probity clearances pending in Nevada and New Jersey.

Ainsworth dismisses any angst by investors on the register to the deal arguing it will help the company grow and compete with rival Aristocrat and international giants including Bally and Scientific. He doesn't know what he's talking about," Ainsworth retorts. Gladstone will travel to Las Vegas this week to meet with Novomatic chief executive Harald Neumann where he will tour AGT's new pokie production factory.

Ainsworth hopes that by year-end his share sale will be complete and he can turn his attention to philanthropic work. You are logged in as unknown Logout. I understand that submission of this content is covered by the Conditions of Use by which I am bound and Commenting Guidelines are available for my reference.

Len Ainsworth quietly sips a cup of tea in the austere boardroom of Ainsworth Game Technology. Dominic Lorrimer "It's not a bad result for an amateur," chuckles Ainsworth.

  • Ninety-two year old pokies king Len Ainsworth is clearly feeling pleased at selling out of his business for $ million. "It's not a bad result for an amateur," chuckles Ainsworth. Given Ainsworth's While Ainsworth steadfastly refused to budge, the privately-held Novomatic played a masterful long game.
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Louise Kennerley While Ainsworth steadfastly refused to budge, the privately-held Novomatic played a masterful long game. Get the latest news and updates emailed straight to your inbox.

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