Australian gaming supplier Ainsworth Game Technology Limited reported a 7% decline in revenue to AU$264.1 million (US$167 million) in 2024, with the decline mainly due to challenges faced in Latin America.
Underlying EBITDA fell by 18% to AU$48.2 million (US$31 million) while underlying profit after tax declined by 17% to AU$21.8 million (US$14 million).
In announcing its full-year results, Ainsworth said it had achieved its strongest performance in North America where revenues grew by 5% year-on-year to AU$147 million (US$93 million).
However, there were lower sales within Latin America, primarily from the challenging economic conditions in Argentina and import restrictions within Mexico in the current period, the company explained, adding that there had been some positive improvements towards the end of the year which should lead to better performance in FY25.
In Asia-Pacific, revenue declined by 12.5% to AU$42.7 million (US$27 million). While regional unit sales in the region of 1,406 were slightly up year-on-year – with Australia representing 1,308 of those units, the average selling price of AU$24,700 (US$15,675) represented a slight decline due to discounts to achieve runout of inventory of previous generation models prior to the launch of the A-Star Raptor cabinet in February 2025.
Segment profit declined to AU$2.7 million (US$1.7 million), compared to AU$3.4 million (US$2.2 million) in the prior year period, Ainsworth explained.
Online gaming also saw revenue halved to AU$7.6 million, impacted by changes to the exclusivity arrangements with Game Account Network (GAN).
Ainsworth CEO Harald Neumann said, “I am pleased with progress to date as we continue to capitalize on opportunities and establish Ainsworth as a leading provider within the gaming industry sector. The investments we have made have enabled us to upgrade our technology hardware and continue to improve game performance which are expected to ensure our long term sustained success.”
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