Zona de Azar Austria – NOVOMATIC: Rating Upgrade “BB+” by Standard & Poor’s with Stable Outlook

Austria.- June 22, 2023 www.zonadeazar.com The international rating agency Standard & Poor’s (S&P) evaluates the NOVOMATIC AG Group, which is listed on the Vienna Stock Exchange with bonds, with an upgrade of the rating to “BB+” with a stable outlook in the course of the annual audit of the fiscal year 2022.

In the course of the current rating, Standard & Poor’s analysed the strengths and risks of NOVOMATIC AG in comparison to international competitors and currently rates the Group with a “BB+”. S&P justifies the upgrade of the rating from “BB” to “BB+” with NOVOMATIC’s solid operating performance in fiscal year 2022 and the reduction of debt.

Against the backdrop of the recovery in the Gaming Technology and Gaming Operations segments due to the lifting of COVID restrictions in all markets, several acquisitions as part of the international expansion strategy contributed to profit growth in FY 2022. Foremost among these was the acquisition of a majority stake in the Italian HBG Group.

“The improvement in our rating once again confirms not only the success of our dual strategy as a producer and an operator, but also our growth and investment strategy in our core markets. This puts NOVOMATIC among the top credit ratings in Europe and puts it in an excellent 2nd place in global comparison, ahead of other gaming technology groups,” NOVOMATIC AG Executive Board Member Johannes Gratzl said.

Edited by: @Pererarte  www.zonadeazar.com