Ainsworth expects $780,000 in profit for H2

Ainsworth Game Technology expects to record a profit before tax of AU$1m ($780,000) for the second half of the 2021 financial year. “Ongoing improvements in overall market conditions following the Covid-19 pandemic have assisted the group to achieve improved revenue and profitability expectations for 2HFY21,” said the statement.

The predicted profit figure excludes currency transactions and one-off items, including the sale of the group’s Nevada facility in March 2021 worth AU$3.3m. EBITDA for H2 is expected to be AU$13.2m, a 128% increase from H1. For the whole financial year, EBITDA is expected to be AU$19m.

Ainsworth also recently signed a $30m deal for a five-year partnership with supplier GAN, which will allow GAN to license current and future Ainsworth online real money games in the US.

Currently, the company offers 79 exclusive games but, with this new deal, it will supply a variety of new game content on a regular basis. The agreement will come into effect on 1 July 2021.

“Under this exclusive agreement, GAN will incorporate Ainsworth’s existing online operations in New Jersey as well as the planned expansions in Michigan and Pennsylvania,” a statement read.

“Furthermore, it enables Ainsworth to focus on ensuring the development of quality and high performing land-based content which it can leverage into expanding online markets.”