Ainsworth to experience slump

ainsworth

The expected profit is down from the recorded in the last period.

The gaming company warned its investors that they’re gonna experience a fall in pre-tax profit.

Australia.- Ainsworth Game Technology told its investors that they’re expecting to go through a 57 percent fall in pre-tax profit in the first semester of the next fiscal year to around US$11 million, due to challenging industry conditions in the local market.

The expected profit is down from the almost US$25 million recorded in the same period over a year ago. According to Danny Gladstone, Ainsworth CEO, even though international revenues hit good numbers, the local revenues will decline by almost 30 percent in the next fiscal year.

“In Australia we acknowledge that this is a challenging period for volumes, revenues and margins. We operate in a highly competitive market against an effective market leader. We saw minimal corporate and casino sales this year together with general changes in customer purchasing patterns,” he said.

The CEO is confident that with the launching of new games on their latest machine they can reverse the situation and improve the domestic numbers.