Australia's Ainsworth Game rises on GAN deal, upbeat FY21 outlook

Ainsworth Game Technology

18/05/2021 01:59

** Shares of gaming machine maker Ainsworth Game Technology
Ltd  AGI.AX  gain as much as 9.2% to A$0.983 – their highest
since Feb 25
    ** Co says it partnered with internet-based interactive
gaming services provider GAN Ltd  urn:newsml:reuters.com:*:nASX81D9q0
    ** Co says under agreement Ainsworth will provide GAN with
exclusive use of current and future Ainsworth real money online
game assets within the United States for a minimum guaranteed
consideration of $30 mln 
    ** AGI sees FY21 group underlying Earnings Before Interest,
Taxes, Depreciation, and Amortization (EBITDA) to be about A$19
mln ($14.77 mln), compared with A$4.2 mln in FY20
    ** Also expects to report a profit before tax of approx A$1
mln for H2 FY21, compared with A$50.1 mln loss in H1 FY21
    ** About 273,000 shares change hands, compared with the
30-day average volume of about 122,000 shares
    ** AGI on track to post a fourth consecutive session of
gains; up 87.5% this year, as of last close
       
    ($1 = 1.2862 Australian dollars)

 (Reporting by Aditya Munjuluru in Bengaluru)
 ((aditya.srivastsav@thomsonreuters.com))