• 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 posts US$38.7mln loss, flags 2H recovery

Aug 26, 2021 Newsdesk Latest News, Top of the deck, World  


Ainsworth posts US$38.7mln loss, flags 2H recovery

Australia-listed slot machine maker Ainsworth Game Technology Ltd reported on Thursday a full-year loss after tax of AUD53.4 million (US$38.7 million), up from AUD50.1 million a year earlier.

The company said in a filing that the effects of Covid-19 “impacted” the group’s financial performance in the 12 months to June 30, as it recorded “one-off non-cash impairment charges” during the period. Nonetheless, the company said it saw a recovery in the second half of its financial year.

For the full financial year, Ainsworth reported a pre-tax loss of AUD59.2 million, compared to a AUD48.8-million pre-tax loss in the previous year. That form of loss in the six months to June 30, was AUD2.6 million, stated the company.

“The full-year results included AUD11.5-million currency translation losses and AUD41.7-million in one-off, non-cash impairment charges,” said the firm.

The impairment charges were related to the write down of some of the group’s asset values, due to “uncertainties and risks in forecasted cash flows” in some of the regions where it operates, including Australia and Latin America, said the company.

Excluding the effects of currency exchange and one-off items, the firm said its loss before tax for the year was AUD17.1 million, comprising a loss of AUD18.7 million for the first half, and a profit of AUD1.6 million in the second half.

Ainsworth said adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) “significantly improved” in the second half of the financial year.

The firm reported adjusted EBITDA of AUD15.5 million for the full year, compared to AUD5.8 million in the prior corresponding period. Adjusted EBITDA in the six months to June 30 was AUD14.4 million, compared to AUD1.1 million in the first half.

Ainsworth said its results for the second half of the financial year were a “significant improvement on the first half results.”

“This has followed the progression of vaccination programmes across our major markets where most customers’ venues gradually reopened, with a relaxation of previously instigated restrictions,” it added.

The group’s aggregate revenue increased to AUD159.5 million, up 7 percent year-on-year. Revenue in the second half rose 21 percent compared to the first six months of the financial year. International markets contributed AUD120.5 million in revenue for the financial year.

North America and Australia remained the company’s strongest markets in the latest financial year, according to Thursday’s filing. In Asian markets, Ainsworth also represents the interests of the Novomatic casino technology brand, which belongs to Ainsworth’s controlling shareholder, Austria-based Novomatic AG.

As of June 30, Ainsworth had a cash balance of AUD42.4 million and since then, the cash balance has further increased, it said.

In July, the slot maker received the initial US$5-million contribution from GAN Ltd, a provider of interactive Internet-delivered games, to “license Ainsworth online real money games” in the United States.


  • tweet
Related articles
  • Galaxy Entertainment 1Q EBITDA at US$244mln
    Galaxy Entertainment 1Q EBITDA at...

    May 22, 2023  

  • Ainsworth expects rev uplift after amending GAN deal: CEO
    Ainsworth expects rev uplift after...

    May 19, 2023  

More news
  • Much interest in state casinos sale, says Pagcor boss Tengco
    Much interest in state casinos sale,...

    May 30, 2023  

  • Dividend restart still far for Macau ops: JP Morgan
    Dividend restart still far for Macau...

    May 30, 2023  


Latest News

Much interest in state casinos sale, says Pagcor boss Tengco

Much interest in state casinos sale, says Pagcor boss Tengco

May 30, 2023  

Alejandro Tengco (pictured in a file photo), chairman and chief executive of the Philippine casino regulator, the Philippine Amusement and Gaming Corp (Pagcor), has told GGRAsia it has already had...
Read More
Dividend restart still far for Macau ops: JP Morgan

Dividend restart still far for Macau ops: JP Morgan

May 30, 2023  

Gaming industry in for a very exciting period: Bill Miller

Gaming industry in for a very exciting period: Bill Miller

May 30, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


6,000

Total number of visitors expected at the Global Gaming Expo (G2E) Asia 2023 Special Edition: Singapore, running from May 30 to June 1



Most Popular

  • Cotai Expo hotel extra to licence capex, says GoldsteinCotai Expo hotel extra to licence capex, says Goldstein May 29, 2023
  • Ian Coughlan out of Wynn Macau Ltd board, Cameron-Doe inIan Coughlan out of Wynn Macau Ltd board, Cameron-Doe in May 29, 2023
  • Londoner Macao to host Harry Potter exhibition in DecLondoner Macao to host Harry Potter exhibition in Dec May 29, 2023
  • Londoner Macao pulls in foreigners and Chinese: LVS CEOLondoner Macao pulls in foreigners and Chinese: LVS CEO May 25, 2023
  • Suntrust agrees to US$6mln loan from chairman Andrew LoSuntrust agrees to US$6mln loan from chairman Andrew Lo May 29, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us