Slots Manufacturer Builds Fortune on Machines
Another testament to how popular and lucrative slot machines are can be seen with the life of Len Ainsworth. Ainsworth is a many who amasses his fortune by manufacturing the machines. The 85 year old Australian business owner is thanking slots for his fortune of $653 million. Capitalizing on the popularity of the machine in the gambling market has been good to him and his family.
Ainsworth has seven sons from two different marriages. He stated, “You can’t judge what your children might do; you can’t judge what your children’s wives might do. Maybe someone loses money in a venture and dad’s just croaked it, so why not plunder that?” His words are indicative of how he feels. Ainsworth never claimed to have a handle on his family and he is well aware of the huge fortune that will potentially be up for grabs within the next decade.
In an effort to protect his money, Ainsworth has extended the maturity on his $40 million loan to the company to four years after the date of his death. In addition to that, Ainsworth changed the redemption date on the Ainsworth Game Technology’s $25.6 million in bonds. These moves are very wise moves on the part of a shrewd businessman. These extensions of bond redemption and the maturity of the loan puts an impassible road block in the way of any surviving family member that attempts to divert money from Ainsworth Game Technology. These moves do not protect the company indefinitely, but they sure to shore it put from immediate tampering.
The world of slot machines is huge and for the past century it has grown exponentially. Though the game began as a simple mechanical-driven machine in the late 1800s, it quickly caught on. Developers turned it into an electronic game that has served billions throughout history. Ainsworth is just one manufacturer who by no means had a monopoly on the market, but still managed to make his mark with outstanding game quality and theme variety. Now that he is in his 80s, Ainsworth is looking to protect his fortune for his heirs but is very logical about the entire process. He ended his conversation with, “Once you’re in a box, you don’t know what’s happening, do you?”
Tags: Ainsworth, Australia, manufacturer, slots
