Ainsworth luck holds with growth streak

Poker machine manufacturer Ainsworth Game Technology has continued its strong growth in the first half, CY 23 out of the profit and sales slump that accompanied the Covid pandemic.

In a trading update the Sydney manufacturer and online games developer said it expected a profit before tax, excluding currency and one-off items, of approximately $20 million for the six months to 30 June this year.

The company continues to see growth in revenue across North America, benefitting from the expansion of its Historical Horse Racing products in new and existing jurisdictions.

Historical Horse Racing gaming is popular in US states were slot machine-style games driven by random number generators are not allowed. Instead, past horse race information is used to determine wagering outcomes.

Machine sales momentum continues, including the placement of 400 units at VictoryLand Alabama, and additional units of its Gamblers Gold multigame series of products in South Dakota and Louisiana.,

Introductions in other states are planned as regulatory field trials are completed.

The company expects Latin American revenue to increase by at least 25 percent in the half compared to the $33 million achieved in the previous six months.

This is expected to include a higher proportion of sales in Argentina, however the introduction of import restrictions is expected to limits second half contributions.

Chief Executive Officer Harald Neumann said: “I am encouraged by the continued growth being experienced and remain confident that the investments and development initiatives we have undertaken will enable the company to maintain the positive revenue growth trajectory in coming periods.”

Further reading:
Browse @AuManufacturing’s coverage of Ainsworth Game Technology here.

Picture: Ainsworth Game Technology