European gaming equipment maker Novomatic will increase its stake in Casinos Austria with shares it will soon acquire from MTB Privatstiftung and Leipnik-Lundenburger Invest Beteiligungs.

Gaming equipment maker Novomatic is set to acquire a stake of almost 30 percent in Casinos Austria AG.

The Austria-based company announced it has made binding offers to MTB Privatstiftung and to Leipnik-Lundenburger Invest Beteiligungs AG (LLI). Privatstifung has 16.8 percent shares in Casinos Austria, while LLI has 29.6 percent shares in MEDIAL Beteiligungs GmbH, which equates to an indirect equity stake of 11.34 percent in Casinos Austria.

“By means of these transactions we will be able to contribute as a solid Austrian partner with international expertise and become a part of a sustained shareholding structure of Casinos Austria AG,” Novomatic CEO Harald Neumann said in a statement.