Australian gaming machine manufacturer Ainsworth Game Technology reported an underlying profit before tax of AU$21.1 million ($15.1 million) for the year ended December 31st, 2025, down 9 percent from a year earlier, according to its annual report.
Management cited higher costs, market volatility in Latin America, and corporate disruptions as factors weighing on performance.
The result excludes currency impacts and one-off items. Revenue increased to AU$290.8 million ($207.7 million), up from AU$264.1 million a year earlier, while underlying EBITDA was AU$48.0 million ($34.3 million), broadly unchanged year-on-year. EBITDA margin declined to 16.5 percent from 18.3 percent due to pressure on product sales margins.
Chairman Danny Gladstone said the reporting period was marked by “significant challenges across our markets, including volatile economic conditions in Latin America, an increased level of investment to remain competitive, and the advent of rising cost pressures experienced.”
The company also faced disruptions during the year, including the departure of its former chief executive officer in October 2025, alongside developments related to a discontinued scheme of arrangement and multiple takeover approaches.
Despite these factors, revenue growth was supported by stronger performance across Asia Pacific, North America, and Latin America. Asia Pacific revenue rose to AU$65.0 million ($46.4 million), driven by the rollout of the A-Star Raptor™ cabinet, which launched in February 2025 and contributed to higher unit sales and pricing.
Management said games released on the A-Star Raptor™ platform, including Year of the Snake™, Nugget Hunter™, and Eagle Riches™, performed above house average following deployment.
North America remained the largest market, contributing AU$151.3 million ($108.1 million), or 52 percent of group revenue, although segment profit declined due to tariffs and lower gross margins on product sales.
Latin America and Europe generated AU$69.3 million ($49.5 million) in revenue, supported by demand for A-Star™ cabinets, while the online segment declined to AU$5.2 million ($3.7 million) following contract changes and competitive conditions.
Operating costs increased by 5.6 percent to AU$145.2 million ($103.7 million) in constant currency terms, while research and development spending rose 1 percent and accounted for 17 percent of total revenue.
