GAMING NEWS: A.G.E. SETS NEW ATTENDANCE RECORDS & AINSWORTH ANNUAL PROFIT SLIDE
The 29th annual Australasian Gaming Expo demonstrated once again why it is the industries “must do” premier event by setting a new attendance record with 8,638 visits, which was a 7% increase over the 2017 expo, already a record year.
The 2018 Expo featured 237 exhibitors, covering a broad spectrum of hospitality suppliers. The winner of the “People’s Choice Award” for the best-presented stand, Hennessy Handcrafted Coffee’s John Hennessy commented that “2018 AGE continues to deliver quality leads”.
The Australasian Gaming Expo attracted visitors from 26 countries with strong showings from New Zealand and the USA and more than 92 senior executives from Asia.
Next year’s Expo will be held from the 13th to the 15th of August, 2019 and more information is available at www.austgamingexpo.com. Exhibitors who are interested in attending next year can contact Judy Rayner at
AINSWORTH SEES ANNUAL PROFITS SLIDE DESPITE STRONG SECOND HALF
Australia’s Ainsworth Game Technology (AGT) has reported a 6 per cent decline in revenue to AUD$265.6m for its financial year ended June 30th, despite seeing an improvement from its core Americas business.
Revenue from the Americas grew by 3 per cent to $184.4m, offsetting declines in Australia and the rest of world, which were down 14 per cent and 37 per cent respectively to $63.6m and $17.5m.
Combined with a 3 per cent increase in operating expenses, profit after tax for the year fell by 16 per cent while on a pre-currency basis, profit before tax amounted to $39.2m, exceeding the company’s original $36.0m guidance and slightly ahead of its recently upgraded guidance of $39.0m.
Sales increased during the second half of the fiscal year bringing in $106.2 million compared to $87.9 million for the first.
AGT CEO, Danny Gladstone, said when reporting the figures to the Australia Securities Exchange, “Our performance continues to show signs of improvement and is a direct result of the strategies implemented to expand our international footprint, invest in technology to enhance our product suite, and build our participation fleet to improve the quality of our earnings.”
He also asserted that Ainsworth recognises “the intense competition” it had to face across its operating markets but is confident that the company “can outperform” in the sector.
Gladstone added, “We will continue to judiciously invest our cash flow in product improvements and innovation, and sales and marketing while retiring debt and rewarding shareholders. In the fiscal year 2019, we expect to release a new suite of products which should assist in translating to improved financial results.”
Sources: Gambling Insider / Gaming Intelligence / Calvin Ayre
