Australian slot machine supplier Ainsworth Game Technology reported Adjusted EBITDA of AU$14.0 million (US$9.1 million) and a profit after tax of AU$4.2 million (US$2.7 million) in the six months to 30 June 2023 – both up 1.5% year-on-year but slightly down on the December 2022 period.
However, revenues of AU$143.6 million (US$93.1 million) were significantly higher both year-on-year and sequentially thanks to the improved performance in its North America and its Latin America and Europe segments, marginally offset by a slower Australian market.
According to the company’s 1H23 results presentation, revenue in the North American segment grew by 13% year-on-year to AU$68.5 million (US$44.4 million), representing 54% of total international revenue on the back of ongoing strong performance from high-denomination games. Machines under operation in North America had reached 3,073 as of 30 June, up 20% on the same period in 2022.
In Latin America and Europe, revenues grew by 50% year-on-year and by 37% over 2H22 to AU$45.5 million (US$29.5 million) – driven by demand and the utilization of import licenses in Argentina, which Ainsworth said accounted for 52% of unit sales.
In Asia-Pacific, revenue was down 7% year-on-year 15% compared to 2H22 to AU$21.2 million (US$13.7 million) on competitive market conditions.
Ainsworth CEO Harald Neumann said, “I am pleased to report that progress has continued in the current period against the strategies implemented to improve earnings from Ainsworth. I am confident that the focus on R&D to fundamentally upgrade our technology hardware and improve game performance will deliver further improvements.”