Ainsworth Game Technology Limited reported 2025 revenue of $290.8m, up 10% year-on-year from $264.1m, with underlying EBITDA flat year-on-year at $48.0m compared to $48.2m in the prior corresponding period.
The supplier said normalised profit before tax decreased 9% to $21.1m. Underlying EBITDA margin declined 1.8 percentage points to 16.5%, reflecting a 4 percentage point drop in gross profit margin to 57% and the impact of tariffs introduced during the year.
International revenue accounted for 80% of total revenue. Recurring revenues, including Historical Horse Racing connection fees, increased 2% to $97.7m.
Total machines under gaming operation at 31 December 2025 fell 11% to 6,091 from 6,871, driven by conversion to sales in Mexico and Argentina and changes in HHR regulation in New Hampshire and Louisiana.
North America contributed $151.3m in revenue, up 3%, with its share of total revenue declining 4 percentage points to 52%. Ainsworth said segment profit in the region was affected by lower product sales margin and tariffs.
Latin America and Europe revenue rose 4% to $69.3m. Units under operation in the region decreased 10% to 3,473, while recurring revenue was flat at $21.1m. Average yield remained at $12 per day.
Asia Pacific revenue increased 52% to $65.0m. Unit sales in the region rose 36% to 1,914, with average selling prices up 4%. Segment profit increased to $13.6m.
The online segment reported revenue of $5.2m, down 32%, which Ainsworth linked to changes to exclusivity arrangements with Game Account Network and accelerated revenue in the prior period.
Ainsworth Chairman, Mr Danny Gladstone, said: "The investments made in core technologies are expected to place us in a position to progressively improve the Group’s financial results in coming periods."
In February 2026, Novomatic AG increased its holding in Ainsworth to 66.84% after its off-market takeover offer closed short of the 75% threshold required for compulsory acquisition, while Kjerulf David Hastings Ainsworth increased voting power to 7.46% via a proportional offer.
Borrowings on the established loan facility increased to $23.5m, resulting in a Debt/Equity ratio of 28%, up from 23%
