Australian slot machine supplier Ainsworth Game Technology has announced a profit after tax of AU$9.1 million (US$6.6 million) in the six months to 31 December 2021, reversing an AU$50.1 million (US$36.2 million) loss recorded 12 months earlier.
The reversal was due to the vastly improved performance of its North American and Latin American markets as casinos reopened following the devastation of the COVID-19 pandemic.
In North America, sales grew 33% year-on-year to AU$54.6 million (US$39.4 million) – driven by increased revenue from Historical Horse Racing sales and installations. Segment profit increased by 88%, Ainsworth said.
In Latin America, sales surged by 363% to AU$22.2 million (US$16.0 million), from just AU$4.8 million (US$3.5 million) in 1H21, allowing for segment profit of AU$10.0 million (US$7.2 million) versus an AU$10.2 million (US$7.4 million) loss in the prior year period.
However, there remained challenges in Australia where ongoing COVID-19 lockdowns throughout 2021 saw revenue decline by 13% year-on-year.
Group-wide, Ainsworth reported a 39.7% increase in revenue for the six months to 31 December 2021 to AU$100.7 million (US$72.3 million), with Adjusted EBITDA of AU$24.6 million (US$17.8 million) reversing an EBITDA loss of AU$36.8 million (US$26.6 million) a year earlier.
CEO Harald Neumann said the company was looking forward to further recovery in Australia and Latin America while undertaking “a range of initiatives to fundamentally upgrade Ainsworth’s game design and technology capabilities.”
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