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S&P upgrades NOVOMATIC rating

S&P upgrades NOVOMATIC rating

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International rating agency Standard & Poor’s (S&P) has evaluated NOVOMATIC AG, listed on the Vienna Stock Exchange with bonds, with an upgrade of the rating to BB+ with a stable outlook in the course of its annual audit of the fiscal year 2022.

S&P analysed NOVOMATIC’s strengths and risks in comparison to international competitors, justifying the upgrade of the rating from BB with solid operating performance and reduction of debt.

Against the backdrop of recovery in the gaming technology and gaming operations sectors, 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 second place in global comparison, ahead of other gaming technology groups,” states Executive Board Member, Johannes Gratzl.

NOVOMATIC also received awards and top ratings in the context of non-financial reporting for its commitment to sustainability, such as in the Sustainalytics ESG Risk Rating.

Recently voted Best Employer in Lower Austria by the MARKET Institute, NOVOMATIC is aware of its responsibility towards its employees. With its own training programmes, such as a Corporate Coding Academy for future developers or a programme for the Casino Managers of tomorrow, the company, which was awarded the title of ‘Leitbetrieb’, has received numerous employer awards, such as the ‘berufundfamilie’ seal of approval from the Ministry of Family Affairs for family-friendly employers.