Len Ainsworth

About Len Ainsworth

Birth Place: Sydney, Australia, Australia
Type: Public company
Traded as: ASX: ALL
Industry: Gambling
Headquarters: Sydney, Australia
Key people: Trevor Croker, CEO
Operating income: -$A16 million
Website: https://www.aristocrat.com/

Len Ainsworth Net Worth

Len Ainsworth was born in Sydney, Australia, Australia. Len Ainsworth gave his large stake in Aristocrat Leisure to his seven sons and ex-wife more than 20 years ago; he's entitled to some proceeds if they sell. He founded Aristocrat in 1953 but stepped aside in 1994 after a cancer scare; it's now the world's second-biggest gaming-machine company. He started a similar company, Ainsworth Game Technology, the following year at age 72. He remains an executive director after selling his majority stake to Austrian gaming giant Novomatic. He signed the giving pledge in March 2017.
Len Ainsworth is a member of Gambling & Casinos

💰 Net worth: $1.37 Billion (Updated at 22 June 2018)

2013 $1.1 Billion
2014 $1.4 Billion
2015 $1.2 Billion
2017 $1.1 Billion
2018 $1.27 Billion

Some Len Ainsworth images

Biography/Timeline

1953

The company produced its first machine in 1953, and was listed on the Australian Stock Exchange in 1996. The company was founded by Len Ainsworth, whose family maintains a substantial stake in the company, but is now chairman of a different Gaming company, Ainsworth Game Technology. Aristocrat is licensed to distribute slot machines and other Gaming products in over 200 jurisdictions (note that many countries, such as Australia, have a number of different gaming-licence jurisdictions).

2004

The company employs 2,080 people. Company revenue during 2004 was in excess of A$1.1 billion. This is in contrast to earlier financial crises that the company has suffered, mainly associated with licence rejections in Nevada and dishonoured contracts in South America.

2017

Aristocrat's CEO blamed the US subprime mortgage crisis for bad financial results in 2008, despite the fact that competing companies have experienced record growth in the same time period. As a result of the expected drop in revenue, the CEO enacted sweeping budget cuts, including large-scale retrenchments of staff from all areas of the Business. The company again faced difficult market conditions in 2009 with its full year resulting in a net loss of $157.8 million. In July 2014 Aristocrat agreed to buy Video Gaming Technologies for about $1.3 billion to triple its North American Business amid falling profit in Australia. On August 10, 2017, it acquired mobile game developer Plarium for $500 million to enter into moble Gaming On November 30, 2017, it acquired mobile game developer Big Fish Games for US$990 million.