Ainsworth profit tumbles 38% in H1

Delay in approval of cabinets and game software chipped away the net profit of Australia-based slot machine supplier Ainsworth Game Technology Ltd by as much as 37.8 percent.

In a filing before the Australian Securities Exchange, Ainsworth’s net profit from operations in the first half of its financial year 2017 was at AUD$20.6 million (US$15.8 million), down from AUD$33.1 (US$25.36 million) a year earlier.

On the other hand, Ainsworth’s total revenue tumbled by 14 percent to AUD$122.7 million (US$ 94.02 million) for the six months to December 31, 2016.

The pokie developer attributed the dismal net profit to tough competition and delay in the approval of cabinets and gaming software.