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New games to boost Aust profit: Ainsworth

AAP logoAAP 14/11/2016 Trevor Chappell

Poker machine supplier Ainsworth Game Technology says the release of new games, including the iconic Pacman, should help improve the group's financial performance in Australia.

Ainsworth on Tuesday reaffirmed that its interim pre-tax profit, excluding currency effects, will be down sharply to around $15 million, from $35 million a year ago.

The company blames continuing challenging local industry conditions.

In fiscal 2016, corporate and casino sales were minimal, and customer purchasing patterns changed. These market trends had continued into the new financial year.

But the second half of 2016/17 should be "much better" and show a significant improvement in profits compared the the second half of 2015/16.

Chief executive Danny Gladstone said new games on Ainsworth's wide-screen A600 cabinet should boost financial performance in Australia.

"The release of a new range of games on the technically-advanced A600 at the Australasian Gaming Exhibition in August 2016 has been well received and should, over time, provide momentum to improve our domestic results," Mr Gladstone told shareholders at Ainsworth's annual general meeting in Sydney on Tuesday.

"The A600 is maintaining floor space and more product variants and additional hardware configurations will be launched in the New Year."

Mr Gladstone also said the company had employed recognised external game consultants with good track records to support further product development.

Ainsworth's relationship with international gaming company Novomatic, which has an extensive library of games and technologies, should also provide benefits.

Mr Gladstone said that in fiscal 2017, Ainsworth expects its international revenues and profits to continue to grow, reflecting new hardware and games, a new Ainsworth headquarters in Las Vegas and the expected benefits with Novomatic.

International revenues account for 71 per cent of Ainsworth's total group revenue.

Mr Gladstone also said that Ainsworth was looking to expand in the social and mobile gaming channels.

He said Ainsworth's second social gaming app, King Spin Slots, was performing strongly.

Shares in Ainsworth closed 0.5 cents lower at $1.76.

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