Gladstone was appointed in 2007 but has advised AGT of his desire to leave the role next year. The current CEO will remain in place while the search for his successor takes place.

However, Gladstone will not leave the company altogether, continuing with AGT in a different role once his replacement is appointed.

AGT Chairman Graeme Campbell said: “Ainsworth is much stronger for Danny’s contribution. We are delighted he will continue to assist us in the future.

“A thorough and extensive search process will be undertaken to secure a new CEO who can lead AGT to the next stages of growth and profitability.”

AGT was purchased by fellow supplier Novomatic in January but reported a 6% decrease in revenue, to A$265.5m (US$193.6m), for the financial year ending 30 June.

By contrast, parent company Novomatic reported a 13% year-on-year increase in sales revenue, to €1.37bn ($1.6bn), for the first half of 2018 – chiefly due to the boost in gaming machines revenue provided by the AGT takeover.