Key Moments:
- Ainsworth Game Technology has projected a AU$43.1 million non-cash goodwill impairment tied to its North American business for full-year results.
- The company has reported an additional $22.7 million loss in full-year results from net foreign currency changes, transaction costs, and other asset impairments.
- Ainsworth has stated that its adjusted EBITDA is expected to match 2024 levels at $48 million, with profit before tax projected at $21 million.
Financial Impact of North American Operations
Ainsworth Game Technology has notified investors of a non-cash impairment totaling AU$43.1 million in connection with goodwill connected to its North American segment. This charge relates to the company’s previous acquisitions of Nova Technologies and MTD Gaming, as well as the weaker-than-expected performance from Ainsworth’s Cash Generating Unit in 2025.
The company previously disclosed on December 8 that its North American revenues were anticipated to drop by roughly 20 percent in the latter half of 2025.
Additional Financial Results and Outlook
Beyond the impairment, Ainsworth has also reported a $22.7 million loss for the full year. This figure includes net foreign currency losses, transaction expenses related to a concluded scheme of arrangement and off-market takeover proposals, along with impairment for other non-current assets within the Online CGU.
Ainsworth has maintained that it expects its adjusted EBITDA to be consistent with the 2024 result of $48 million. The company projects profit before tax, currency, and one-time items to reach $21 million, slightly below an earlier estimate of $21.5 million announced on December 8.
“This goodwill impairment will not affect the company’s US-based operating subsidiary, Ainsworth Game Technology Inc.’s ability to meet the financial covenants tied to the existing Western Alliance Bancorporation secured loan facility,” Ainsworth said.
Developments Around the Novomatic Takeover Offer
The announcement of the impairment coincides with Novomatic’s ongoing takeover bid for Ainsworth. On Monday, Novomatic prolonged its offer for what it termed the final time, stating there would be “no further extension” to this proposal.
This new deadline was established after Kjerulf Ainsworth, son of company founder Len Ainsworth, extended his own bid to acquire an additional 2.9 percent of Ainsworth until January 30.
| Financial Item | Amount |
|---|---|
| Goodwill Impairment (North America) | AU$43.1 million |
| Addition Losses (Foreign Exchange, Transactions, Impairments) | $22.7 million |
| Adjusted EBITDA (Expected) | $48 million |
| Profit Before Tax (Expected) | $21 million |
| Previous Profit Before Tax Estimate (Dec 8) | $21.5 million |
- Author
Daniel Williams
