Australian gaming machine manufacturer Ainsworth Game Technology (AGT) is expecting to see relatively flat profit before tax for the first half of 2025, amounting to approximately AU$14 million ($8.92 million).
According to a Monday trading update, the figure compares to AU$14.3 million ($9.11 million) in the same period of 2024.
Total revenue for the six-month period is expected to rise by about 6 percent sequentially, up from AU$142.7 million ($90.91 million) in 2H24, boosted by ‘improved revenue contributions within Australia following the release of the Raptor cabinet in February 2025’.
Revenue out of North America is expected to be ‘broadly consistent’ with the previous reporting period, however its Latam/Europe segment is expected to see a 14 percent decrease in revenue due to import restrictions in Mexico. This comes ‘despite increased contributions from recurring revenue from units under gaming operation in this region’.
The group also notes that it will slightly increase its investment in research and development in 1H25 to 17 percent, up from 16.6 percent in 2H24.
Speaking of the results, AGI Chair Danny Gladstone noted that “The expected result outlined above is in line with our expectations and reflects previously initiated strategies undertaken”. However, revenue growth has been “offset against ongoing challenging conditions in our international markets, and an increased cost base and continued investment to support our revenue growth”.
Late in April, the group had announced that gaming technology supplier NOVOMATIC had proposed to acquire all remaining shares in AGI that it did not yet own for some AU$336 million ($216 million).
Speaking of the deal, Gladstone furthered that the Independent Board Committee established to assess the proposal “recommends that shareholders vote in favor of the Scheme, in the absence of a superior proposal”.
The deal is still subject to shareholder approval, scheduled for August.
