GGRAsia – Ainsworth’s Gladstone to quit as CEO, staying with firm

Ainsworth’s Gladstone to quit as CEO, staying with firm

Sep 24, 2018 Newsdesk Industry Talk, Latest News, Top of the deck, World

Ainsworth Game Technology Ltd has announced its chief executive Danny Gladstone (pictured) will relinquish the post after June 30 next year.

The Australian maker of slot machines told the Australian Securities Exchange on Monday that Mr Gladstone would remain in the role until the company found a replacement, before transferring into another job with the company. The move will allow Ainsworth Game to retain Mr Gladstone’s experience and expertise concerning the industry.

The announcement quoted Ainsworth Game chairman Graeme Campbell as saying Mr Gladstone had driven the international growth of the company and its revenue. “Ainsworth is much stronger for Danny’s contribution,” Mr Campbell said. “We are delighted he will continue to assist us in the future.”

Ainsworth Game reported last month net profit of AUD31.9 million (US$23.3 million) in its financial year ended June 30. The result was 15.8 percent less than the previous year, on revenue of about AUD265.6 million. The company said sales were higher in its financial second half than in its financial first half.

The recent performance of Ainsworth Game helped its new owner, Novomatic AG of Austria, increase its earnings before interest, tax, depreciation and amortisation in the first half of this year to EUR318 million (US$370.9 million), 12.6 percent more than a year earlier.