Ainsworth Game Technology focuses on the Americas

Company News

by Kathy Skantzos

Ainsworth Game Technology (ASX:AGI) said it will focus on expanding into online markets and explore new licensing opportunities in Latin America at its annual general meeting.

The gaming tech company said the Americas a key area of focus, with its Las Vegas facility adding presence in the North American market, with sales pipeline for the second half of FY2018 expected to be promising, even though revenue in the Americas was down 3.2 per cent in FY2017 on the prior corresponding period.

The company said its FY2018 profits will be weighted in the second half of FY2018, which comes after its FY2017 profit results exceeded guidance by 2.5 per cent with profit before tax of $57 million.

Trading in the first half of FY2018 is expected to be held back by regulatory delays in Australia, lower unit sales in Asia and a temporary deterioration in margin in North America.

International market revenue in FY2017 grew 2 per cent from the prior corresponding period and now account for 74 per cent of the total group revenue.

Ainsworth Game Technology (ASX:AGI) are trading 1.79 per cent lower $2.19.
 

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.