ASX-listed retail and digital gaming hardware supplier Ainsworth Game Technology (AGT) has issued a formal trading update to the market, projecting a substantial reduction in both headline revenues and net profits for the current half-year period.
The Australian manufacturer confirmed that group revenues for the six months ending June 30, 2026, are expected to decline to AU$ 116.0 million, marking a severe contraction compared to the AU$ 152.1 million generated during the prior-year period.
North American Contraction Drives Down Underlying EBITDA
The performance update reveals a parallel downward trend against the AU$ 138.7 million in revenue captured during the half-year ending December 31, 2025, with overall group profit expected to plummet by over AU$ 10 million. Corporate directors explicitly blamed a steep reduction in direct product sales and fewer active hardware unit placements within the North American market as the primary catalysts for the downturn.
This regional contraction was heavily accelerated by intense competitive pressure from rival slot manufacturers alongside adverse macroeconomic conditions that restricted retail casino capital budgets across the United States.
Consequently, AGT half-year underlying EBITDA is projected to contract down to $13.0 million, representing a severe drop in revenue against the $26.9 million logged a year earlier, while net profits will plummet from $13.9 million down to $1.0 million.
While the brand anticipates minor positive operational cash flows of $2.0 million, increased capital outflows from financing and product engineering will cause total net debt to increase to approximately $14.0 million, compared to $11.8 million at the close of 2025. This downward curve follows a full-year 2025 performance where Ainsworth managed a 10% revenue increase to hit $290.8 million, yet ultimately fell into an overall net loss of $19.2 million due to deep international asset write-downs.
A Reprieve in the Domestic Australian Landscape
Conversely, Ainsworth’s domestic operations have delivered a vital financial buffer. Revenues across the Asia-Pacific (APAC) region, and Australia in particular, grew by a stable 4% year-on-year, driven by the successful rollout of the new Raptor gaming cabinet and specialized regional game variations.
As a result of this domestic lift, the APAC segment is projected to represent an expanded 31% share of total group revenues, climbing up from its previous 23% contribution level. Concurrently, while Latin American and European segments are expected to post a 13% drop in gross turnover, the decline will be successfully neutralized by substantially improved regional segment operating margins.
Ryan Comstock, who was recently confirmed as Ainsworth’s permanent global Chief Executive Officer following a successful interim tenure, outlined their aggressive corporate turnaround plan to stabilize international market share:
“The expected results outlined above were impacted by organisational changes which occurred during the latter period of FY25. Following these changes new sales and product strategy leadership have now been appointed within North America to ensure a more targeted approach is established to improve these financial outcomes. Our strategy reflects initiatives implemented, resulting in the improvements in Australian revenues, which is helping to offset ongoing challenging market conditions and competitive pressures across our international markets, while maintaining investment in product development. In response to the expected results, we continue to review all areas of the business aimed at reducing the cost base, improving product performance and achieving market share gains across all geographical regions to positively improve financial performance for the remainder of FY26.”
