$473 million deal sees billionaire Len Ainsworth stepping back from company he founded
Billionaire gambling equipment mogul and founder of Ainsworth Game Technology, Len Ainsworth (92) has sold his entire 53 percent stake in the company to Austrian gaming company Novomatic for $473 million.
Ainsworth will remain as chairman of the company after selling 172.1 million shares at $2.75 a share.
The Ainsworth board said it supports the deal and will convene an emergency general meeting for shareholders to vote on the transaction.
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