• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Thursday 10 July 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Ainsworth anticipating US$7.2 million profit through December 2021

Newsdesk by Newsdesk
Fri 26 Nov 2021 at 05:43
Ainsworth eliminates 107 positions as COVID-19 brings AU$43 million loss
14
SHARES
352
VIEWS
Print Friendly, PDF & Email

The new CEO of Australian slot machine supplier Ainsworth Game Technology says the company will return to profit in the six months through 31 December 2021, reversing losses in each of the past four quarters.

Addressing shareholders at the company’s AGM on Thursday, Harald Neumann – the former Novomatic boss who replaced Lawrence Levy as CEO of Ainsworth in September – said the company was benefiting from both cost savings introduced throughout the COVID-19 pandemic and rising fortunes in its American markets.

“Ainsworth is purposefully a different company to the one we were before the pandemic,” he said. “We have deliberately taken advantage of the opportunities available to us over the last year to become more streamlined, more efficient and more competitive. We are well positioned for recovery and growth.”

“I am pleased to report Ainsworth’s momentum in the second half of the last financial year has continued into FY22. Revenue for the first half of FY22 is expected to be ahead both the prior corresponding period and the previous six months. AGT expects to deliver a profit before tax, excluding currency impacts and one-off items, for the first half of FY22 of around AU$10 million (US$7.2 million).

“While domestic markets have been adversely impacted by extended lockdowns, our North American and Latin American operations are delivering growth and improved earnings. Ainsworth’s online activities are also contributing positively following the exclusive distribution partnership announced with GAN Limited [in May].”

Neumann also pointed to an improved cash position compared with this time last year, boosted by a refinanced AU$50 million flexible loan facility, an initial US$5 million payment by GAN for use of Ainsworth content and a US$9.4 million payment from Churchill Downs for the sale of 400 participation machines. As a result, Neumann said, Ainsworth has repaid US$18 million in borrowings since 30 June.

There is return of the company’s dividend program just yet, however, with Chairman Danny Gladstone confirming the payment of dividends remains suspended.

RelatedPosts

The Star Brisbane postpones poker tournament series due to expected strike action

The Star Brisbane postpones poker tournament series due to expected strike action

Wed 9 Jul 2025 at 14:08
Crown saga claims new scalp as Western Australia’s Chief Casino Officer steps down over conflict of interest claims

Crown Perth deemed suitable to maintain casino license after three-year remediation

Tue 8 Jul 2025 at 12:40
Star to open AU$3.6 billion Queen’s Wharf Brisbane development on 29 August

Star’s Hong Kong partners offer one month reprieve to complete Queen’s Wharf Brisbane deal

Mon 7 Jul 2025 at 08:55
Hong Kong’s Far East Consortium reports first full year gaming revenue after Australian, European acquisitions

Workers at The Star Brisbane take strike action over “insulting” pay offer

Sun 6 Jul 2025 at 09:13
Load More
Tags: Ainsworth Game TechnologyAustraliaHarald Neumannprofitslot machines
Share6Share1
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – An inconvenient truth

Editorial – An inconvenient truth

by Ben Blaschke
Fri 27 Jun 2025 at 15:21

It’s understandable that political observers, academics and members of the public in greenfield jurisdictions would express caution around the legalization...

Light & Wonder’s Siobhan Lane

Light & Wonder’s Siobhan Lane

by Ben Blaschke
Fri 27 Jun 2025 at 15:19

Siobhan Lane, Light & Wonder’s highly experienced CEO of Gaming, speaks to Inside Asian Gaming about the company’s ongoing transformation...

Honesty is the best policy

Honesty is the best policy

by Ben Blaschke
Fri 27 Jun 2025 at 14:13

The Thailand Entertainment Complex Roundtable brought industry stakeholders, politicians and supporters of the government’s Entertainment Complex Bill face to face...

Sri Lanka’s casino industry

Sri Lanka’s casino industry

by Shaun McCamley
Fri 27 Jun 2025 at 13:36

Industry veteran Shaun McCamley delves into the complex history of Sri Lanka’s casino industry at a time when the country...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
Jumbo
568Win

Related Posts

PhilWeb falls to US$10.5 million loss in FY24 on asset impairments

Century Entertainment signs joint venture agreement to develop gaming system platforms for Asia-Pacific markets

by Newsdesk
Thu 10 Jul 2025 at 06:22

Century Entertainment International Holdings Ltd has announced the formation of a joint venture with Philippines-based World Platinum Technologies Inc (WPT) with the goal of conducting research, development, marketing and sales of WPT’s gaming system platforms and related content in the...

Macau GGR hits new post-pandemic high of MOP$20.8 billion in October

Citi: Macau industry EBITDA likely to have grown by 3% in 2Q25

by Ben Blaschke
Thu 10 Jul 2025 at 05:46

Investment bank Citigroup believes the 8% year-on-year growth in gaming revenues generated by Macau’s casino operators in the June quarter will translate to 3% industry EBITDA growth – somewhat tempered by an unfavorable revenue mix due to a rebound in...

Thailand’s casino bill officially on hold after House votes to remove it from agenda

Thailand’s casino bill officially on hold after House votes to remove it from agenda

by Ben Blaschke
Thu 10 Jul 2025 at 05:42

Thailand’s controversial casino bill is officially off the House agenda after members voted in favor of its withdrawal on Wednesday. Local media outlet The Nation reported that the vote took place after two hours of debate, with 253 votes in...

Macau government says ratio of local staff employed by concessionaires in middle and senior positions now at 90%

Macau government says ratio of local staff employed by concessionaires in middle and senior positions now at 90%

by Pierce Chan
Wed 9 Jul 2025 at 19:46

Around 90% of the middle and senior staff of Macau’s six concessionaires are now local employees, the government has revealed. According to information made public by Secretary for Economy and Finance Tai Kin Ip during a plenary session of the...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • English