Ainsworth Game Technology Expects to Exceed Earnings Forecasts

Australian gaming firm, Ainsworth Game Technology, predicts surpassing its earnings forecasts for the latter half of the 2021 fiscal year. This optimistic projection stems from robust market circumstances propelled by the worldwide rebound from the COVID-19 crisis. The corporation anticipates pre-tax earnings to hit AUD $1 million (roughly USD $780,000), a substantial rise over preliminary estimates.

This remarkable fiscal showing is even more notable given it omits gains from the March 2021 divestiture of Ainsworth’s Nevada production facility for AUD $3.3 million. Furthermore, the enterprise forecasts strong expansion in earnings before interest, taxes, depreciation, and amortization (EBITDA), with a projected 128% surge in the second half of the fiscal year, reaching AUD $13.2 million. This will contribute to a total projected EBITDA of AUD $19 million for the entire fiscal year.

Further bolstering its standing, Ainsworth recently secured a five-year, USD $30 million agreement with GAN, a prominent gaming software supplier. This strategic alliance grants GAN exclusive access to Ainsworth’s present and forthcoming online real-money games within the United States.

This joint effort will significantly broaden Ainsworth’s digital presence in the US. GAN will incorporate Ainsworth’s existing online activities in New Jersey and utilize its game collection for future expansion in Michigan and Pennsylvania. This partnership permits Ainsworth to concentrate on crafting high-quality gaming content for both physical and digital markets, further solidifying its place in the global gaming sector.