Ainsworth projects normalized profit of approximately $28 million for 2023

For the fiscal year 2023, Ainsworth Game Technology Ltd., a manufacturer of casino slot machines, projects a normalized profit before tax of around AUD41.3 million (US$28.1 million).

An update to the Australian Securities Exchange states that the company anticipates a profit of AUD18.0 million for the six months ending December 31, based on existing projections and scheduled deliveries.

This announcement follows Ainsworth’s most recent report, which revealed that despite a 20.2% increase in sales to AUD143.6 million, the company had an after-tax loss of AUD3.7 million for the six months ended June 30.

Details of Ainsworth’s new Raptor cabinet, which is a part of the A-STAR line, were provided. It was noted that the cabinet is now finished, approved in many parts of North America, and ready for installation to start by the end of 2023.

CEO of Ainsworth Harald Neumann expressed satisfaction with the progress made, highlighting the creation and marketing of the innovative and highly technological Raptor cabinet. The recent growth of the firm in the historic horse racing products markets in Kentucky and New Hampshire, USA, was also acknowledged by him.

Neumann continued by stating, “The benefits of previous investments made in research and development are expected to positively contribute to the company’s financial performance in coming periods.” Ainsworth plans to release its audited financial report for the fiscal year 2023 on February 28.

Original story by: GGRAsia