Ainsworth Gaming Corporation anticipates a robust conclusion to its 2021 financial year, predicting pre-tax earnings of AUD$1 million (roughly US$780,000) for the latter half. This optimistic forecast is driven by a “sustained favorable market climate post-pandemic,” which has generated greater-than-anticipated income and earnings, as per a corporate announcement.
This projected earnings number excludes foreign exchange gains and non-recurring items, such as the AUD$3.3 million from the divestment of the company’s production facility in Nevada in March 2021. Ainsworth projects EBITDA for the second half of the fiscal year to hit AUD$13.2 million, a substantial 128% surge compared to the initial half. For the complete fiscal year, EBITDA is anticipated to reach AUD$19 million.
Further strengthening its outlook, Ainsworth recently secured a five-year, US$30 million contract with GAN, a prominent gaming technology provider. This arrangement grants GAN sole rights to Ainsworth’s current and upcoming online real-money games within the US market.
Although Ainsworth currently provides a collection of 79 distinct games, this collaboration will empower the company to continually introduce novel and captivating content. The agreement is scheduled to commence on July 1, 2021.
Through this exclusive partnership, GAN will incorporate Ainsworth’s existing online operations in New Jersey and its growth strategies for Michigan and Pennsylvania. This strategic action permits Ainsworth to focus on its core competency: creating premium, high-performing land-based gaming content, while concurrently broadening its presence into the rapidly expanding digital market.
