Ainsworth Positive Despite Profit Drop
There are several reasons for such a dip, with the company’s domestic market being the leading cause. Ainsworth has stated that the market in Australia is showing an overall decrease in sales in the industry, which has a knock-on effect for all suppliers.
However, incoming CEO, Lawrence Levy, is not too distressed by these numbers. The company has been investing heavily in research and development for various sectors, and this kind of output will always have an impact on a company’s bottom line. This is especially so when operating in tough economic times in general.
Revenue Picked Up At The End
The company’s balance sheets thankfully did show an improvement right at the end of the financial year. This clearly shows that their investments are starting to gather momentum and Levy says that he is confident that Ainsworth will continue to improve over the long term. He believes that their reputation for excellence and their strong footprint across a number of international markets will keep the company moving forward.
Even in a tough year, Ainsworth managed to get over 80 casino games developed and approved in several lucrative markets. Just for the PlayMGM online platform in New Jersey, USA alone, the company supplied 20 games in this last financial year. The rest of the new pokies and other games are being distributed to online gaming operators in Latin America, Europe, and the US. International sales are now totalling around 85% of Ainsworth’s total turnover.
Research And Development Paying Off
When asked about the strong focus on research and development within the company over the last couple of years, CEO Levy said that he believes it was a good thing and can see that it is starting to pay off. The company launched one of their projects, Mustang Money, earlier this year and is seeing encouraging results. The game is a real-money online experience that is available in Mexico. It has seen a strong uptake in users and Ainsworth is using this to grow their player database and income.
Looking forward, Levy has said that Ainsworth Game Technology will continue to invest in research and development projects. However, they need to be a lot more focused in the projects they work on and be selective when it comes to acquisitions.