Strong H1 Performance Driven by North America
Ainsworth Game Technology (AGT), one of Australia’s long-standing gaming machine manufacturers, has forecast a profit of approximately AUD 14 million for the first half of the 2025 financial year.
According to Ainsworth’s latest trading update, the expected profit (before tax and currency adjustments) reflects steady operational performance and robust growth in North American markets.
Ainsworth’s North American business, which includes recurring revenues from gaming operations and machine sales, continues to act as the backbone of the company’s earnings, contributing nearly 75% of total revenue in FY24.
This strong momentum is attributed to high demand for its core Class II and Class III gaming products, especially in tribal and commercial casinos across the U.S.
Novomatic Eyes Full Acquisition
This financial announcement gains additional significance as shareholders prepare to vote on Novomatic AG’s bid to acquire the remaining 42% stake it does not already own in Ainsworth.
Novomatic, which has held a majority stake (about 58%) since 2018, seeks to fully integrate Ainsworth into its global portfolio. If approved, the deal will value Ainsworth at roughly AUD 470 million, a move anticipated to provide Ainsworth with stronger global distribution and deeper R&D resources.
Investor Concerns Over Valuation and Delisting
However, shareholder sentiment is mixed. Some investors have raised concerns about undervaluation and reduced transparency should Ainsworth become wholly owned by Novomatic and eventually delist from the ASX.
Market analysts suggest that while full integration could streamline operations and bolster international reach, minority shareholders may expect higher premiums for approval.
Key Vote Set for Mid-May 2025
The decisive shareholder meeting is scheduled for mid-May 2025, an event that could redefine Ainsworth’s trajectory both domestically and globally.
