After announcing in September that he will be stepping down from next summer as Chief Executive Officer for Australian gaming machine developer Ainsworth Game Technology Limited, Danny Gladstone has now reportedly declared that his firm is ‘well placed to increase our market share’ and has ‘a positive outlook’ for the coming financial year.
Executing a ‘clear strategic plan’:
According to a report from GGRAsia citing the Sydney-based innovator’s latest annual financial results (pdf), Gladstone stated that his optimism is down to the recent takeover of his firm by Austrian rival Novomatic AG and the execution by his team of a ‘clear strategic plan’.
Gladstone’s statement read…
“By growing international sales, investing in game technologies, increasing recurring revenues from participation and leveraging our partnerships, we are strengthening Ainsworth Game Technology Limited and driving profitable growth. It is the execution of these strategies that will deliver results.”
Relationship creates revenues:
For the twelve months to the end of June, Ainsworth Game Technology Limited reportedly explained that it had chalked up total revenues of around $188.4 million with some $4.8 million of these coming directly from its new relationship with Novomatic AG. Although this former figure represented a decline of just over 9% year-on-year, Gladstone purportedly detailed that second-half sales rose by over 20% when compared with the previous six-month period to reach in excess of $103 million with the firm’s international business accounting for approximately 76% of takings.
Gladstone’s statement read…
“The opportunities with Novomatic AG will continue to be reviewed. We have completed the development and integration of 20 Ainsworth Game Technology Limited slot titles for its Greentube Pro social casino platform, which will be used in North American land-based casinos. We are investigating other licensing opportunities with land-based casino machine sales [and] taking a bundled approach.”
Profit beats guidance:
Ainsworth Game Technology Limited moreover reportedly detailed that its annual profit before tax hit slightly over $27.8 million, which was better than previous guidance of $25.5 million, with Gladstone proclaiming that his firm had ‘delivered an improved second-half performance’ as these returns rose by 68% when compared with the corresponding six-month period to reach beyond $16.3 million.
Gladstone’s statement read…
“As we continue to execute our strategies to grow our international footprint, broaden the product library and drive higher quality recurring earnings, we are well placed to increase our market share, translating to improved financial results and returns for shareholders. We have a positive outlook for fiscal year 2019.”