Ainsworth Addresses Cybersecurity Disruption, Confirms Positive H2 Outlook

Ainsworth Confirms Cybersecurity Incident Under Control
Australian gaming machine supplier Ainsworth Game Technology (AGT) has confirmed a cybersecurity incident that caused temporary disruptions to its internal operations. Despite these issues, the company assured stakeholders that its financial performance for the second half of 2024 remains unaffected.

In a statement released on 27 November, AGT reported that the incident is under investigation. While specific details or the exact timing of the breach were not disclosed, the company stated that precautionary measures have been taken to mitigate further risks. AGT emphasised that the event is not expected to have a significant impact on its projected results for H2 2024.

AGT shared its preliminary management forecasts, projecting pre-tax profits between AU$8 million and AU$10 million for H2. This represents strong business momentum, with a forecasted 12% increase in revenue compared to the AU$121 million recorded in H1.

Growth was noted across all geographical regions, though the digital segment experienced a temporary setback following the termination of AGT’s agreement with GAN on 31 March. The termination ended GAN’s exclusive licensing rights to distribute AGT’s online slots in the United States.

However, AGT reported that gross margins for H2 are expected to decline slightly compared to H1. For the full year, gross margin is estimated at 62%, down from 67% in H1. Despite these margin adjustments, cost-control measures ensured that overheads remained consistent with the first half.

CEO Harald Neumann expressed confidence in the company’s outlook, citing improved game performance and upcoming product launches as key drivers for sustained growth.

“The development initiatives previously undertaken are having progressive improvements in game performance within our markets. Additional game releases and hardware initiatives are expected to maintain the growth experienced in coming periods,” Neumann said.

With AGT expecting to close H2 with robust results, the company’s focus remains on leveraging its development initiatives to drive future expansion.