{"id":9458,"date":"2020-08-29T15:40:57","date_gmt":"2020-08-29T15:40:57","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=9458"},"modified":"2026-04-24T02:18:27","modified_gmt":"2026-04-24T05:18:27","slug":"ainsworth-full-year-revenues-down-36","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/ainsworth-full-year-revenues-down-36","title":{"rendered":"Ainsworth full-year revenues down 36%"},"content":{"rendered":"\n

The company eliminated 107 positions globally and employees took voluntary pay cuts to save US$7.3 million in costs.<\/p>\n\n\n\n\n\n\n\n

Australia.- Ainsworth Game Technology has posted its full-year results for the 12 months to June 30, reporting AU$43 million (US$31.6 million) losses after taxes.<\/p>\n\n\n\n

Revenues totalled AU$149 million (US$109.7 million), which meant a decrease of 36 per cent against the prior financial year. EBITDA was AU$3 million (US$2.2 million).<\/p>\n\n\n\n

In Australia and Asia, the company saw revenues of AU$35 million (US$25.7 million), compared to AU$48 million (US$35.3 million) in the corresponding period in 2019 \u2013 a decline of 27 per cent.<\/p>\n\n\n\n

The core markets of New South Wales, Asia and Europe\/Other regions contributed 50 per cent and 31 per cent of the overall decline respectively, the company reported.<\/p>\n\n\n\n

The Australia gaming provider said results were heavily impacted by the suspension of operations for many of its traditional customers due to the Covid-19 pandemic in what is normally its strongest quarter.<\/p>\n\n\n\n

It said: \u201cThese results were severely impacted by Covid-19 primarily in quarter 4, traditionally the strongest period for the group.\u201d<\/p>\n\n\n\n

The company said that in reaction to the impact, it had cut costs through voluntary pay cuts and the elimination of 107 positions<\/a><\/em><\/strong>.<\/p>\n\n\n\n

The measures amounted to cost savings of AU$10 million (US$7.3 million), which the company expects to see carry forward into 2021.<\/p>\n\n\n\n

The company spent 2 per cent more on research and development than in 2019, amounting to AU$41.2 million (US$30.3 million). It said that “despite the initial reduced working hours introduced within R&D areas, a gradual re-introduction of normal working hours has occurred to ensure that timely approvals of new games are achieved in preparation for when markets fully recover from Covid-19.\u201d<\/p>\n\n\n\n

Chief executive officer, Lawrence Levy, said: \u201cAGT is well positioned as customers across our major markets look to recover from the effects of the pandemic.\u201d<\/p>\n\n\n\n

The firm said that some customers were reopening but the majority of venues were still receiving reduced visitation levels and were therefore reducing capital expenditures.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company eliminated 107 positions globally and employees took voluntary pay cuts to save US$7.3 million in costs.<\/p>\n","protected":false},"author":2,"featured_media":9460,"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 reported AU$43 million net losses and a 36% revenue decline to AU$149 million for FY2020, primarily due to COVID-19 impacts on customer operations. The company implemented cost-saving measures, including 107 job cuts and pay reductions, while increasing R&D investment to prepare for market recovery.","focusai_entities":"Ainsworth Game Technology, AGT, Lawrence Levy","focusai_location":"Australia, Asia, Europe, New South Wales","focusai_target_profile":"ceo_executive (0.95), operator_casino (0.75), product_ux (0.7), investor_analyst (0.98), supplier_vendor (0.9), journalist_researcher (0.9)","focusai_suggestions":[{"label":"R&D Investment ROI","query":"What is Ainsworth's projected return on the increased R&D investment, particularly given the reduced capital expenditure environment among operators?"},{"label":"Market Recovery Strategy","query":"How does Ainsworth's 'well-positioned' outlook translate into specific market penetration or customer acquisition strategies as venues gradually reopen and capital expenditure remains constrained?"}],"footnotes":""},"categories":[16336,163],"tags":[20778],"class_list":["post-9458","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-finance-news","tag-financial-results"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9458","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=9458"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9458\/revisions"}],"predecessor-version":[{"id":9482,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9458\/revisions\/9482"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/9460"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=9458"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=9458"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=9458"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}