• 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 US$40mln half-year loss on impairment charge

Feb 25, 2021 Newsdesk Latest News, Top of the deck, World  


Ainsworth US$40mln half-year loss on impairment charge

Ainsworth Game Technology Ltd reported a loss after tax of AUD50.1 million (US$39.9 million) for the six months to December 31, compared to AUD4.0-million profit a year earlier. The latest result includes “one-off impairment charges” of AUD29.2 million, “primarily due to the recent deterioration in the group’s Latin America business,” stated the gaming supplier in a Thursday filing to the Australian Securities Exchange.

The half-year results also include a currency-exchange loss of approximately AUD13 million due to the strengthening of the Australian dollar against the U.S. dollar, said Ainsworth Game.

“Excluding currency impacts and impairment charges… the loss before tax was AUD14 million in the current period,” it added.

Revenue for the six months to December 31 was AUD72.1 million, down 32.8 percent from the prior-year period. The result was a 71-percent improvement from the first half of calendar year 2020, stated the company.

In Thursday’s filing, Ainsworth Game said its international sales contributed 73.3 percent to the group’s aggregate revenue in the reporting period.

The company reported underlying adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) of AUD5.8 million. Such result excluded the non-cash impairment charges, and included AUD4.5 million in “government pandemic subsidies and concessions” granted during the reporting period. Accounting for those items, the group’s reported EBITDA was negative to the tune of AUD36.8 million.

Despite seeing slight improvements in some of the markets in which the firm operates, Ainsworth Game said revenues in the Latin America segment “were severely impacted by the effects of Covid-19,” down 85 percent from the prior-year period.

The company said it had “re-evaluated” the impacts on the group’s revenue from the “uncertainties” in the Latin America market. “Given the revised outlook, Ainsworth Game prudently decided to record AUD27 million one-off non-cash impairment charges relating to the Latin American business unit,” it stated.

Ainsworth Game said earlier this month it had a new five-year secured-credit facility worth US$35.0 million, provided by United States-based lender Western Alliance Bancorp. Proceeds of US$28 million from this new facility were used “to extinguish all company obligations under the prior revolving credit facility” with Australia and New Zealand Banking Group Ltd, said the firm.


  • tweet
Related articles
  • TransAct quarterly loss widens despite revenue increase
    TransAct quarterly loss widens...

    May 11, 2022  

  • Gaming, fintech drives Everi to record 1Q results
    Gaming, fintech drives Everi to record...

    May 11, 2022  

More news
  • Pragmatic Play to offer its slots via online platform bet365
    Pragmatic Play to offer its slots via...

    May 17, 2022  

  • PH Resorts widens 1Q loss, affirms going concern risk
    PH Resorts widens 1Q loss, affirms...

    May 17, 2022  


Latest News

Pragmatic Play to offer its slots via online platform bet365

Pragmatic Play to offer its slots via online platform bet365

May 17, 2022  

The Pragmatic Play brand, a leading content provider to the iGaming industry, says it has signed a deal to launch its complete slot portfolio on the bet365 online wagering platform. As a result,...
Read More
PH Resorts widens 1Q loss, affirms going concern risk

PH Resorts widens 1Q loss, affirms going concern risk

May 17, 2022  

AAEC side files appeal notice on failed lawsuit against LVS

AAEC side files appeal notice on failed lawsuit against LVS

May 17, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


US$14.5 million

First-quarter gaming revenue recorded by the casino at the Jeju Dream Tower resort in South Korea



Most Popular

  • Wynn CEO, Macau execs in base pay cut in return for sharesWynn CEO, Macau execs in base pay cut in return for shares May 17, 2022
  • Macau repeat visitors denied visa by China says BernsteinMacau repeat visitors denied visa by China says Bernstein May 16, 2022
  • Macau GGR tax cut may spur 15pct EBITDA hike: JP MorganMacau GGR tax cut may spur 15pct EBITDA hike: JP Morgan May 16, 2022
  • Macau mulls GGR tax cut if casinos attract foreign playersMacau mulls GGR tax cut if casinos attract foreign players May 13, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us