Ainsworth Game Technology has been synonymous in the online gambling industry, since being founded by Len Ainsworth in 1995. To date, the gambling operator supplies more than 70 different online casino and online bingo sites with an abundance of games. Popular Ainsworth powered sites include: Trada Casino, Guts Casino and Videoslots Casino. Despite being the force behind numerous websites, the software giant has reported a profit loss for year on year revenue…
…A loss of 6% in its revenue from operating activities was recorded for the financial year ending 30th June 2018, which brought its overall profits down to $265.5m (Australian Dollars ). Profits before tax were hit with a 10% loss ($42.3m Australian Dollars), whilst profits after tax dropped by 16% to $31.9m. This resulted in EBITDA declining by 20%, from $67.5m - which was substantially less than the previous year’s figure: $84.2m…
…With international revenue, 91% of this was attributed to America (due to a decrease in sales in New Zealand and Asia) plus Australia was hit with a 14% loss.
Whilst profit losses are never a good thing, there has been some positive news from the company: sales on the second half of the year were up from $120.3m to $145.3m.
A spokesperson for Ainsworth said:
“The decline is mainly driven by lower sales as a result of minimal business activity with large corporate customers, continuing pressure from competitors, regulatory approval delays in product submissions and further product development changes which have deferred the approval and release of previously scheduled key game titles until the first half of FY19.”
