Cover feature: Ainsworth’s burning desire

Ainsworth Game Technology (AGT), founded by industry pioneer Leonard “Len” Ainsworth and celebrating its 30-year anniversary in 2025, has risen from a modest enterprise into a leading supplier of gaming solutions, currently operating in over 50 countries across Australia, North America, LatAm, Europe and Asia.

To understand the origin of AGT, one must first examine the career of its Founder, a towering figure in gaming and often credited with revolutionizing slot machine manufacturing in Australia. Before founding AGT, Ainsworth established Aristocrat Leisure in 1953, a company that would go on to become one of the world’s largest manufacturers of slot machines and online gaming entertainment.

Aristocrat began as a side venture to supplement Ainsworth’s dental supplies and equipment business, a line of work inherited from his father, until the introduction of poker machines proved highly lucrative for the company and helped transform Aristocrat into the global leader it stands as today.

Competitive nature

In 1984, following a prostate cancer diagnosis, Ainsworth chose to sell his majority stake in Aristocrat, redirecting significant funds to his family and philanthropy. After thankfully recovering from the diagnosis and maintaining his desire for gaming innovation, Ainsworth re-entered the gaming industry by starting AGT in 1995 at the age of 71. The move underscored his ambition to create a new legacy distinct from Aristocrat, despite his experience with the company playing an unmistakable role in AGT’s early strategies, particularly its focus on gaming machines tailored to land-based casinos.

“In a nutshell, Mr. Ainsworth got bored when he retired and sold out of Aristocrat and decided at the ripe old age of 71 he was going to start another gaming company. From those humble beginnings back in 1995, the original focus was always to emulate and double up what he had achieved previously at Aristocrat,” Ainsworth VP of Product Strategy, Marketing and Sales Sean Evans exclusively told Gaming America. “Mr. Ainsworth is a very, very competitive individual. There were reasons as to why he stepped out of Aristocrat but eventually he said to himself, ‘I can do that again.’”

Unlike Aristocrat, which had grown into a corporate goliath, AGT was established as a more agile enterprise, emphasizing innovation and responsiveness to market demands. The supplier’s initial focus was to create gaming machines with advanced electronics, evident in the development of Ambassador, AGT’s first flagship gaming cabinet – launched in 2001.

The Ambassador marked a significant milestone for AGT, as the gaming machine set itself apart from competitors by offering a visually immersive player experience. The game’s technology and processor supported complex game designs, providing a point of differentiation in the competitive land-based casino market. The Ambassador’s success established AGT as a serious contender, particularly in Australia, where it quickly gained traction among casino operators.

“It was very Australian-centric through those first five years. After that, the next move was this office we’re in (in Florida) for LatAm before the next step in evolution was of course entering North America,” Evans described. “I would say we kicked off in the North American marketplace around 2003, about eight years after the original foundation. Pretty much with any global company and/or gaming company, you invest the money in the product, both the hardware and the software, and if you can spread that across many different regions, it makes sense to expand.

And we’re seeing this evolution come quicker in North America.”

Following the success of Ambassador, AGT pursued an aggressive product development strategy, introducing new gaming cabinets and game titles specifically tailored to diverse markets. In 2007, the company launched the Ambassador SL, an enhanced version of its original cabinet that helped to solidify the company’s reputation for delivering high-performing, innovative machines. The Ambassador SL supported a variety of games, including standalone progressives and linked jackpots, representing an immensely popular offering throughout the 2000s for casino players.

AGT’s product portfolio also expanded to include branded products such as the Players Paradise linked jackpot, Quadshot game range and the A560 Wide Boy Reels of Wheels cabinet. These innovations helped AGT continue to build market share in Australia and laid the foundation for international expansion. The A560SL, introduced in 2013, became a standout performer across North America, with popular titles like Rumble Rumble driving previously unforeseen demand.

“My first exposure to an Ainsworth game was Quadshot. That was the first one I was sent to review, give my thoughts on and see if I could be inspired to do something similar. It was a great game, very Australian style, unique and they obviously knew what they were doing from where I was standing,” Ainsworth VP of Studios – North America Keith Kruczynski said.

“Throughout my whole career, Ainsworth was always one of the booths I had to stop by and see what cool new stuff they had. Back in 2022, I was given the opportunity to come on board here and it’s nice to see the company still has that trust, belief and desire to become one of the best, if not the best, gaming manufacturers in the world.”

One of AGT’s early strengths was its expertise in high-denomination, or high-denom, video slots, which typically perform above the house average in terms of revenue generated. High-denom games, often played at $1, $2 or $5 denominations, appealed to a specific segment of casino patrons willing to wager higher amounts for potentially larger payouts. Looking ahead to 2016 when AGT would debut its US office, these high-denom offerings began to generate traction for the supplier in North America.

Despite its early successes, though, AGT found itself challenged by a wide range of competition, offering enhanced technology, graphics and sophistication among large portfolios. AGT’s focus on solid, straightforward slot machines, which appealed to traditional players, also limited its ability to compete in emerging segments like low-denomination, high-volatility games. This gap in innovation prompted AGT to rethink its research and development (R&D) strategy in the years that followed, as the supplier would start to bridge a gap to the online scene.

Marking Territory

In 2013, AGT made a strategic pivot by entering the online gaming market, a move driven by the growing popularity of iGaming and the need to diversify its revenue streams. Unlike its land-based portfolio, which focused exclusively on slots, AGT’s online offerings were developed in HTML5 format, ensuring compatibility across desktop and mobile devices, including iPhones, iPads, Android smartphones and tablets. Partnerships with major gaming platforms such as Microgaming, Playtech and iSoftBet facilitated the distribution of AGT’s online slots, enabling the company to reach a broader audience.

“I was asked to come on probably in early 2012 because they were looking at how to approach the online business. And our whole focus was, ‘we have to do this in the right way. We want to approach it in a fully compliant manner and make sure we comply with all the regulations,’” Ainsworth Chief Digital Officer Jason Lim said.

“At that time in 2012, the highest form of online regulation was in Europe. So we got licensing and started on the European side, mainly because regulation wasn’t set up for online gambling in the US yet. We approached the established European market and that was really the starting point of how we entered the online segment; the technology has evolved ever since.”

However, AGT’s online game portfolio remained relatively small compared to industry leaders, with just over 100 titles released by the mid-2010s. The company capitalized on its existing land-based games, such as Rumble Rumble, The Enforcer and Eagle Bucks, but adapted each for online platforms. While these games retained the “land-based feel” with simpler graphics and mechanics, the catalog also managed to appeal to players seeking a nostalgic casino experience.

“Even Len himself had a lot of concerns. Initially it was, ‘look, we’re a land-based manufacturer, so if you do this online I can’t sell as many boxes.’ It was a big education process, but one of the biggest things was when the light bulb flipped: we could sell boxes while marketing our brand and broadcasting our content into a new segment of players – who will potentially come back into a land-based casino and look for our boxes,” Lim explained. “And that education process – not only with Len because as soon as he understood it he was the biggest supporter of how we go forward with the digital side of things – but likewise with our land-based business, it was just sitting down with them and educating.”

AGT’s global expansion accelerated during this period, with the company establishing offices and distribution networks across North America, LatAm, Europe, Asia and New Zealand. By 2016, AGT operated in approximately 50 countries, with a strong focus on the US and Asian markets.

The opening of its 291,000 sq ft North American headquarters in Las Vegas during 2016 was a pivotal moment, signaling AGT’s commitment to forming an established presence in the US market. The facility, designed by KGA Architecture, included manufacturing space and a modern office environment to foster collaboration among its 230 employees, including programmers, engineers and graphic artists.

A strategic milestone occurred during 2016 when Austrian gaming company Novomatic AG acquired a majority stake in AGT for approximately $307.3m, providing AGT with financial backing and access to Novomatic’s extensive distribution network in Europe. AGT maintained operational independence, however, allowing it to continue developing its unique brand identity. Novomatic CEO Harald Neumann would eventually be named CEO of AGT during 2021, following a five-year tenure under the same title with Novomatic.

In 2015, AGT launched the A600 cabinet, a technologically advanced platform designed to support an extensive game library and enhance player engagement. Described by Len Ainsworth as a continuation of the company’s outlook for innovation, the A600 featured a classic design with superior game promotion qualities. The A600’s release coincided with AGT’s motto, “experience counts,” reflecting its commitment to leveraging the supplier’s decades of industry expertise.

In 2017, AGT signed a cross-licensing agreement with International Game Technology (IGT), one of the largest slot producers throughout North America. This partnership allowed AGT to integrate cutting-edge technologies and game mechanics, helping to ensure it remained competitive in the rapidly evolving iGaming industry, as well as the facilitation of new cabinet lines. The supplier would also eventually reach agreements with industry heavyweights such as Light & Wonder and Aristocrat, exemplifying the difference in collaborative motivation between land-based and online gaming.

“Online is very different from land-based, which is extremely competitive. From a land-based supplier’s point of view, they don’t partner with each other. You don’t see IGT partnering with Aristocrat or Light & Wonder, of course,” Lim said. “However, in the online space, one of our biggest partners is Light & Wonder, which we’ve had a relationship with now for over 10 years. Our second-largest partner through acquisition is Aristocrat, so that’s an unusual combination but in an online space it works.”

A humble approach

By the late 2010s, AGT recognized the need to modernize its game development processes to remain competitive, understanding its place in the industry as the very best of second-tier suppliers. This hasn’t stopped Evans from setting personal goals, though, as he believes Ainsworth could still be challenging the largest suppliers for years to come.

“We’re not looking at your IGTs, Aristocrats and Light & Wonders yet, but we do want to become the best of the mid-tier. We’ve set ourselves some lofty five-year goals; we have already been able to achieve some, but making the next step – and the next step and the next step – is always the hardest part,” Evans said.

“We want to become the best of the non-top three, and then we’ll think about taking on those companies. Especially in the gaming space, there can be people who aspire too much. Everyone should have goals, but it can be pretty destabilising to the company if you try to push for that too quickly, or you don’t realize the space you’re in.”

Kruczynski, whose experience leading up to joining AGT included stops with Bally Technologies, Gaming Arts and IGT, shared a similar sentiment, telling Gaming America, “I don’t think we’re trying to be anybody else, especially given the history of Ainsworth. There’s a ton of internal brands we haven’t even tapped into yet. I mentioned Quadshot, but there’s also Quickspin, Mustang, which is one we’re certainly looking at right now, Thundercash, a lot of those great older titles that are just begging to have new life breathed into them. And those weren’t from anybody else, those were done by our predecessors in Australia, so I do believe we have our own identity.”

Kruczynski continued: “One of the more rewarding moments for me was at G2E two years ago when some of my colleagues from other companies came into the Ainsworth booth and said ‘wow, this is pretty cool’ because, when the competition starts seeing you and asking questions, you know you’re onto something.”

Each of AGT’s newly established studios were tasked with developing games tailored to specific markets, especially titles that resonated with local player preferences. For example, the Australian studios focused on games for the domestic market, while the North American studios targeted US and Canadian-based casinos. This localized approach improved game performance and allowed AGT to experiment with new mechanics, such as pot-style games, which became highly popular among targeted demographics.

“One of the biggest decisions, and frankly I was a little bit worried about it at first, was when Harald decided we were not going to do global development from the studio standpoint,” Kruczynski said. “Studios in North America would only be making games for North America, Australia would only be making games for Australia and so forth with Mexico, Europe and Asia. I think that’s something that really differentiates us and allows us to cater more to the area that we’re in. I’m not aware of any other company that’s doing that currently.”

Riding towards expansion 

AGT’s high-denom games continued to excel, with titles like Grand Legacy on the A-Star Slant cabinet and games on the A-Star Dual cabinet achieving top performance metrics in North America. The QuickSpin series, launched in 2017, quickly became one of AGT’s most successful game groups, consistently ranking among the top-earning slots in industry surveys with games such as Super Hot 7s and Super Charged 7s.

Having appealed to both low-denomination and high-denom players, the series’ success would prompt entry expansion, including a MultiPlay version allowing players to spin up to four reel sets simultaneously. The growth would also see AGT forge new paths, as the supplier would make its first move into the historical horse racing (HHR) market.

AGT pioneered the HHR genre by partnering with Churchill Downs Inc. (CDI) in 2020 to develop a platform that translated historical horse race data into slot results. By 2021, AGT had deployed over 2,000 HHR machines with 3,500 games, establishing itself as a leader in this emerging market. HHR games, which combine traditional slot features with race-based outcomes, appealed to jurisdictions where traditional slots were restricted, such as Kentucky and Virginia.

In addition, AGT expanded its presence in Class II gaming, which operates under Tribal gaming regulations throughout the US. The 2018 debut of the A640 cabinet’s Class II version, featuring titles like Pac-Man Wild Edition, marked a significant milestone for AGT. The A640’s 40-inch LCD touchscreen and dynamic game content captured players’ attention, while the AnyBet progressive link enabled life-changing jackpots at various bet levels.

Collaborative approach 

In 2023, AGT introduced the A-Star Raptor cabinet, which quickly became a success in US casinos through featuring a sleek design, curved monitor, dynamic LED lighting and a state-of-the-art LCD touchscreen button deck. The Raptor cabinet represented a leap forward in AGT’s hardware innovation and at the 2024 Global Gaming Expo (G2E), AGT showcased this progress with new titles like Rocket Link Freedom and Rocket Link Liberty. The games were designed specifically for Class II and HHR markets, with additional plans to expand to Class III markets also expected.

The Raptor cabinet’s success was complemented by AGT’s growing portfolio of titles, which included classics such as San Bao Pandas and Dragons and new games like Neon’s Bonus Blast. The company’s focus on data-driven, player-focused development, led by Kruczynski, guaranteed that new games aligned with market trends and player preferences. While many suppliers within gaming create a sense of internal competition to build success, Kruczynski notes how Ainsworth has managed to grow with a more cooperative mindset.

“At other companies I know, there’s a lot of competition between the studios and, in a previous life, one of the terms that was coined was competitive cooperation. We’re cooperating but we’re also competing: I didn’t like that either because I thought it had to be one or the other. Here, it’s just cooperation. We all want to see each other succeed and anytime the Australia studio puts out a great game, the Austin studio is not going to be jealous. They’re going to say, ‘damn, nice job, now I’m going to go see if I can level up,’” Kruczynski said.

“That’s the way it should be. I’m not a huge fan of competing studios. Even looking at competitors, I want to win. I’m a very competitive person. But I also appreciate the work that they’re doing and I can say ‘hey, this is a great job, you should be really proud of this’ – without wanting to see them fail.”

The path forward

Despite its successes, AGT still faces ongoing challenges in a highly competitive industry, dominated by giants like IGT, Aristocrat and Light & Wonder, which consistently force Ainsworth to find new opportunities for expansion whether through land-based or online. To create more financial stability and explore new growth ventures, AGT’s Independent Board Committee recommended authorization for Novomatic to purchase its remaining outstanding shares for an approximate value of $220m in April 2025.

“The acquisition of Ainsworth is consistent with our international growth strategy and the expansion of our presence across the Asia-Pacific and the US region. As a long-term shareholder we are familiar with the business and believe that integrating Ainsworth into our operations is in the best interest of this strategy. We look forward to welcoming the highly qualified and experienced Ainsworth employees into the Novomatic family to become part of our international growth and success,” Novomatic Executive Board Member Stefan Krenn said during the announcement.

AGT’s established research and development operations, particularly in next-generation cabinets and server-based technologies, are now backed by Novomatic’s financial positioning, with an accelerated rollout of new hardware and digital solutions expected once integration is complete.

AGT’s history is a testament to the vision and resilience of its Founder, Len, whose legacy now spans over seven decades. From its debut in 1995 to its current status as a global supplier of gaming solutions, AGT has navigated challenges and capitalized on opportunities to establish a strong presence in the land-based and online gaming markets. Key innovations like the Ambassador, A-Star Raptor and QuickSpin series have driven performance, while strategic partnerships with Novomatic and IGT enhanced its competitive edge among the supplier industry.

“I think Mr. Ainsworth can be pretty proud of what the company’s achieved and where it’s gone. There have been some hard times of course, we’ve fluctuated anywhere between 1% ship share all the way up to 5-6%, but we’re going to keep providing. We’ll keep trying to produce the highest-quality gaming content possible for the best outcome for our players, shareholders and customers,” Evans concluded.

In a rapidly evolving industry, AGT’s commitment to quality, innovation and player-focused development positions it for continued growth throughout 2025 and beyond. As the company expands its studio network and embraces new technologies, it remains a significant player in the global gaming landscape, carrying forward the legacy of its Founder while forging a path toward an increasingly dynamic future. Indeed, 30 years later, Ainsworth’s burning desire for innovation and unrelenting passion for gaming, lives on.

Kirk Geller

Visit Profile

Players trust our reporting due to our commitment to unbiased and professional evaluations of the iGaming sector. We track hundreds of platforms and industry updates daily to ensure our news feed and leaderboards reflect the most recent market shifts. With nearly two decades of experience within iGaming, our team provides a wealth of expert knowledge. This long-standing expertise enables us to deliver thorough, reliable news and guidance to our readers.