Ainsworth sees progress in online gaming

Ainsworth Game Technology is the latest supplier to point to progress in its online offerings, as Covid-19 hits the land-based side of the business.

The Australia-based company reported an adjusted net loss for the fiscal 2019/2020 year of AS$34 million ($24.6 million), with revenue down 36 percent to $149 million.

To mitigate the impact of the downturn, the company has shed 107 jobs, resulting in annual savings of about $10 million.

“While the Covid-19 pandemic hit our industry hard, we moved quickly to protect Ainsworth, CEO Lawrence Levy said. “We took proactive measures to streamline our overheads and restructure previous financing arrangements to ensure we can endure the current downturn.”

Levy said the company is now well positioned as its customers look to recover from the pandemic. 

In the online division, the company booked revenue of $4.6 million, compared with $4.2 million the prior year. 

The group said it is now live with several leading operators in New Jersey, while it is in discussions with established operators in other U.S. states that have authorized online gambling.