Australian slot machine supplier Ainsworth Game Technology reported a profit before tax – excluding currency impacts and one-off items of AU$41.5 million (US$26.9 million) in 2023, up 10.4% year-on-year due to revenue growth across all of its key regions. However, the company fell to a loss after tax of AU$9 million (US$5.8 million), while Adjusted EBITDA of AU$18.9 million (US$12.3 million) was down 31% due to higher costs and a negative interest outcome.
Ainsworth Chairman Danny Gladstone said the FY23 result included significant investments aimed at laying the foundations “to develop and release new and innovative products to further improve the group’s financial results in coming periods.”
Supporting the effectiveness of these initiatives was a 17% increase in group-wide revenues to AU$284.9 million (US$185 million) in 2023, with Underlying EBITDA – described as EBITDA adjusted to exclude currency effects and one-off items – slightly higher year-on-year at AU$57.8 million (US$37.5 million).
The year saw revenue in the North American segment grow by 17% to AU$40.4 million (US$26.2 million), aided by a 9% increase in the number of machines in operation to 3,090.
Latin America booked a 26% increase in revenue to AU$80.1 million (US$52.0 million), driven by continued demand in Argentina and venue re-openings in Mexico and Peru.
However, the company’s APAC business – comprising Australia, New Zealand and Asia – enjoyed only minimal revenue growth to AU$47.6 million (US$30.9 million). Ainsworth noted that of the 1,545 unit sales achieved in this region during the year, 1,286 were in Australia, although the company is hopeful of gaining further traction in Asia by way of upcoming casino openings in the Philippines in particular.
Online segment revenue reached AU$15.6 million (US$10.1 million).
“I am pleased to report that we are well advanced to capitalize on opportunities and progressed further establish the Ainsworth name as a leading provider within the gaming industry sector,” said Ainsworth CEO, Harald Neumann.
“Progress made in the current period further exemplifies the confidence in the strategies implemented which are expected to ensure progressive improvements in the company’s earnings in coming periods.
“The investments we have made have enabled us to upgrade our technology, hardware and improve game performance which are expected to deliver further improvements in our financial results and ensure our long-term sustained success.”
