fiscal-year revenues<\/a><\/em><\/strong> of AU$149 million (US$107.1 million), 36 per cent less than in the prior financial year. It also expects EBITDA of AU$2.9 million (US$1.51 million) for the reporting period.<\/p>\n\n\n\nThe group completely eliminated 40 roles to save AU$3.8 million (US$2.73 million) per annum. All new hires have been frozen and 126 employees and contractors in the US have been furloughed.<\/p>\n\n\n\n
It has extended voluntarily 20 per cent salary reductions for executives into the current quarter.<\/p>\n\n\n\n
The chairman and other paid directors waived his fees for the June quarter and agreed to a 20-percent reduction for the September quarter.<\/p>\n\n\n\n
The company has also negotiated rent relief at its Sydney headquarters, comprising a full waiver for the June quarter and 50 per cent reduction for the remainder of 2020.<\/p>\n","protected":false},"excerpt":{"rendered":"
Ainsworth Game Technology has made 64 redundancies in Australia and the US.<\/p>\n","protected":false},"author":2,"featured_media":9222,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Ainsworth Game Technology has implemented significant cost-saving measures, including 64 redundancies across Australia and the US, a hiring freeze, and executive salary reductions, aiming for AU$10.2 million in annual savings. This restructuring follows a reported AU$34 million net loss before tax and a 36% decline in fiscal-year revenues to AU$149 million.","focusai_entities":"Ainsworth Game Technology","focusai_location":"Australia, US, Sydney","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), compliance_legal (0.7), operator_casino (0.8), product_ux (0.7), tech_data (0.7), investor_analyst (1.0), supplier_vendor (1.0), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Impact on Product Roadmap?","query":"How will Ainsworth's significant workforce reductions and cost-saving initiatives impact its future game development pipeline, R&D investment, and market competitiveness in the B2B slots vertical?"},{"label":"Market Share Implications?","query":"Given the substantial revenue decline and operational restructuring, what are the projected implications for Ainsworth's market share within the global land-based and digital gaming equipment sectors?"}],"footnotes":""},"categories":[16336,157],"tags":[289],"class_list":["post-9220","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-business-news","tag-australia"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9220","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=9220"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9220\/revisions"}],"predecessor-version":[{"id":9228,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9220\/revisions\/9228"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/9222"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=9220"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=9220"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=9220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}