Ainsworth Pins Market Share Hopes On Restructure
Veteran casino pokies provider Ainsworth Game Technology hopes its continued restructuring will play a role in it regaining share in its most important markets. The move comes after what has been a dismal year for the company.
One of the challenges it faced included in profit after tax plummeting by 66% year-on-year to AU$10.9m. In 2018, it saw AU$31.9m profit after tax. This was the result of a drop in revenue. It fell from AU$265.6m to AU$234.3m.
Room For Improvement
At the time the company posted those financial results, CEO Lawrence Levy admitted the results were weak. He also said that the company had what it needed improve its performance. This includes a solid industry reputation, enthusiastic and professional staff, and a wide footprint.
Levy also announced that the company would re-evaluate its R&D investments. He hopes new products will add impetus to its long-term growth.
Among the changes made as part of the company’s on going restructuring was bringing back Danny Gladstone to replace chairman Graeme Campbell. The latter will assume the role of the brand’s most important independent director. Gladstone previously had been Ainsworth’s CEO, but stepped down. Levy took his place. Another resignation came from chief technology officer, Kieran Power. Levy thanked him for his contribution, and he wished him future successes.
Company leadership was not the only aspect to face restructuring. The brand is also reshuffling its product development process. It hopes the changes will lead to exciting new gaming offerings that are relevant.
About the Provider
The company was founded by Len Ainsworth in 1995 as a supplier of land-based gaming machines to casinos in Australia and elsewhere. The offering quickly expanded to include online casino games. Ainsworth also is known for having founded Aristocrat, another game provider, back in 1953.
It has numerous offices around the world. Its corporate headquarters are in Newington, New South Wales. It also has a studio in Las Vegas, USA. That studio played an essential role in the QuickSpin series.
The company has an office in Greenville, USA. It acquired what was Nova Technologies in 2016. The studio maintains a focus on Class II gaming. In addition to all these, Ainsworth has a longstanding development agreement with Bandain Namco in Tokyo, Japan. The name will be familiar to many players as being the creators of the iconic arcade game, Pac-Man.
Among the company’s top online pokies are Diamond Chief, Eagle Buck, Grand Bazaar, and Kanga Cash.