• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Ainsworth fiscal 1H profit halved on tax adjustment

Feb 27, 2018 Newsdesk Latest News, Top of the deck, World  


Ainsworth fiscal 1H profit halved on tax adjustment

Australia-based slot machine supplier Ainsworth Game Technology Ltd on Tuesday reported net profit after tax of AUD9.7 million (US$7.6 million) from operations in the first half of its financial year 2018. That was down 52.9 percent compared to AUD20.6 million in the prior-year period, the company said in a filing to the Australian Securities Exchange.

“This result was affected by a one-off adjustment of AUD8.6 million in the previous period reflecting the reversal of previously-recognised deferred taxes resulting from the treatment of foreign currency movements,” explained Ainsworth Game in Tuesday’s filing.

It added that in the current period the “effective tax rate was 18 percent” which included adjustments on the carrying value of deferred tax assets and deferred tax liabilities “given the tax changes in the U.S. corporate tax rate resulting from recent U.S. tax reform”. “This tax change resulted in a net income tax benefit adjustment of AUD2.2 million,” it stated.

The company said additionally that normalised profit after tax for the period – excluding impact of currency exchange rates – was AUD13.6 million, down 16.6 percent versus AUD16.3 million a year earlier.

Ainsworth Game reported total revenue of AUD120.3 million for the six months to December 31, down 2.0 percent from a year earlier. International markets accounted for 69 percent of the aggregate revenue for the period, up by 2 percentage points from the prior-year period, noted the firm.

Revenue from international markets increased by 2.0 percent year-on-year, to AUD83.2 million. The firm said the “modest growth in international markets was offset by a weaker domestic performance”. Revenue in the Australian market fell by 10 percent year-on-year, to AUD37.1 million.

Earnings before interest, taxation, depreciation and amortisation (EBITDA) were AUD24.6 million, a decline of nearly 22.9 percent in year-on-year terms. Underlying EBITDA – adjusting for currency impacts and other significant items – fell by 10.3 percent on year to AUD26.9 million.

Total operating costs – excluding cost of sales and financing costs – declined by 8.2 percent year-on-year to AUD56.3 million, because of a decrease in administrative expenses and research and development expenses “due to prudent costs minimisation in the period”, said the firm.

The slot machine maker said also that it was reinitiating its dividend policy, with the board of directors declaring a AUD0.15-per-share fully-franked interim dividend.

“The first-half-of-fiscal-year 2018 results are in line with our expectations. We continue to make good progress in executing on our key strategies to grow and strengthen Ainsworth,” said Ainsworth Game chief executive Danny Gladstone in a prepared statement.

“We have invested in new technologies and are increasing our range of innovative content. We have intensified our sales and marketing focus and with new jurisdictions, our international footprint is expanding. Our pipeline of contracted orders is strong. We expect to progressively grow market share and profitability across both international and domestic markets,” he added.

Mr Gladstone said additionally that the first half results “provide a solid base for a strong second half performance”.

“We enter the second half with good momentum and we are making continuing progress in growing in the Americas … We expect to increase our units on participation, driving high quality earnings and strong cash flow,” said the CEO.

The company said it expected the second half profit before tax – excluding currency movements – to be “modestly ahead” of the AUD42.2 million recorded a year earlier.

Last month Austrian gaming equipment supplier Novomatic Group completed the acquisition of a 52-percent stake in Ainsworth Game.


  • tweet
Related articles
  • Crown Resorts, AUSTRAC agree on US$294mln fine over AML
    Crown Resorts, AUSTRAC agree on...

    May 30, 2023  

  • Novomatic’s Black Edition II cabinets at G2E in Singapore
    Novomatic’s Black Edition II cabinets...

    May 29, 2023  

More news
  • Lam Yi Young resigns as deputy CEO Resorts World Sentosa
    Lam Yi Young resigns as deputy CEO...

    Jun 02, 2023  

  • China stimulus package could benefit Macau stocks: CBRE
    China stimulus package could benefit...

    Jun 02, 2023  


Latest News

Lam Yi Young resigns as deputy CEO Resorts World Sentosa

Lam Yi Young resigns as deputy CEO Resorts World Sentosa

Jun 02, 2023  

Genting Singapore Ltd says Lam Yi Young has resigned from his role as deputy chief executive of Resorts World at Sentosa Pte Ltd. The latter firm is an indirect wholly owned subsidiary of Genting...
Read More
China stimulus package could benefit Macau stocks: CBRE

China stimulus package could benefit Macau stocks: CBRE

Jun 02, 2023  

G2E Asia 2023: Singapore

  • Alfastreet’s new Verso cabinet heading to Asian markets
    Alfastreet’s new Verso cabinet heading to Asian markets

    Jun 01, 2023  

    Alfastreet, a manufacturer of electronic gaming machines,...
  • Sega Sammy Creation growing land-based, eyes online
    Sega Sammy Creation growing land-based, eyes online

    Jun 01, 2023  

    Casino equipment maker Sega Sammy Creation Inc is tweaking...
  • iGaming growing in Asia, ops tackling challenges: Uplatform
    iGaming growing in Asia, ops tackling challenges: Uplatform

    Jun 01, 2023  

    The iGaming segment in Asia “has grown rapidly” since...
  • ‘See before you play’ slot marketing tool, say tech suppliers
    ‘See before you play’ slot marketing tool, say tech...

    May 31, 2023  

    Showing slot machine players – via animations on the...
  • Macau stocks tied to China outlook: Bloomberg analyst
    Macau stocks tied to China outlook: Bloomberg analyst

    May 31, 2023  

    Macau stocks in likelihood “have been punished too much...
  • Investors still eye possible fresh IR locations in Japan: scholar
    Investors still eye possible fresh IR locations in Japan:...

    May 31, 2023  

    There are foreign companies still interested in investing...
  • Thai casino law possible in 2024, IR in 2030: govt adviser
    Thai casino law possible in 2024, IR in 2030: govt adviser

    May 31, 2023  

    Thailand could pass the necessary enabling legislation for...
  • China still ‘critical’ to Asian markets: G2E Asia panel
    China still ‘critical’ to Asian markets: G2E Asia panel

    May 30, 2023  

    China will remain a key market for Asian gaming...
  • Much interest in state casinos sale, says Pagcor boss Tengco
    Much interest in state casinos sale, says Pagcor boss

    May 30, 2023  

    Alejandro Tengco (pictured in a file photo), chairman and...
  • Gaming industry in for a very exciting period: Bill Miller
    Gaming industry in for a very exciting period: Bill Miller

    May 30, 2023  

    There are “plenty of reasons” for the global gaming...
  • IGT flags route to high-performing games for Asia
    IGT flags route to high-performing games for Asia

    May 30, 2023  

    Gaming equipment provider International Game Technology Plc...
  • G2E Singapore trade show, conference begins today
    G2E Singapore trade show, conference begins today

    May 30, 2023  

    The Global Gaming Expo (G2E) Asia 2023 Special Edition:...
  • Novomatic’s Black Edition II cabinets at G2E in Singapore
    Novomatic’s Black Edition II cabinets at G2E in Singapore

    May 29, 2023  

    Austria-based gaming equipment maker and operator Novomatic...
  • Uplatform to show latest iGaming products at G2E Singapore
    Uplatform to show latest iGaming products at G2E Singapore

    May 25, 2023  

    Sports betting and online casino operating platform...
  • L&W ambition to be No1 in Asia well on its way: SVP gaming
    L&W ambition to be No1 in Asia well on its way: SVP...

    May 24, 2023  

    The business performance in Asia of gaming content and...
  • G2E Singapore expecting 6k visitors, 100+ exhibitors
    G2E Singapore expecting 6k visitors, 100+ exhibitors

    May 18, 2023  

    The organisers of Global Gaming Expo (G2E) Asia 2023...
  • ‘Dragon Unleashed’ slot link by L&W at G2E in Singapore
    ‘Dragon Unleashed’ slot link by L&W at G2E in...

    May 17, 2023  

    Gaming content and equipment supplier Light & Wonder...
  • Sega Sammy Creation new multi-ETG at G2E in Singapore
    Sega Sammy Creation new multi-ETG at G2E in Singapore

    May 16, 2023  

    Casino equipment maker Sega Sammy Creation Inc is to...
  • Aristocrat at G2E Asia in Singapore previews Year of Dragon
    Aristocrat at G2E Asia in Singapore previews Year of Dragon

    May 09, 2023  

    Casino slot machine and digital gaming content provider...
  • IGT ‘Prosperity’ link in Asia show debut G2E in Singapore
    IGT ‘Prosperity’ link in Asia show debut G2E in...

    May 05, 2023  

    The Global Gaming Expo (G2E) Asia event in Singapore is the...
  • Thai parliament adviser on casinos attending G2E Singapore
    Thai parliament adviser on casinos attending G2E Singapore

    May 04, 2023  

    An adviser to a Thailand parliamentary committee mulling...

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


US$8.1 billion

Macau’s casino gross gaming revenue in the five months to May 31



Most Popular

  • MBS en route to US$500mln quarterly EBITDA: LVS bossMBS en route to US$500mln quarterly EBITDA: LVS boss June 1, 2023
  • Lam Yi Young resigns as deputy CEO Resorts World SentosaLam Yi Young resigns as deputy CEO Resorts World Sentosa June 2, 2023
  • Macau May GGR tops US$1.9bln, up 6pct from Apr: govtMacau May GGR tops US$1.9bln, up 6pct from Apr: govt June 1, 2023

Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us