Ainsworth exempts US$15 mln 1H profit, Hedges on Argentina

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Slot machine maker Ainsworth Gaming Technologies expects pre-tax profit of A$23 million ($14.7 million) by June 30, excluding currency impact and one-off items. 바카라사이트
"This result excludes a rise in GAN profits and a potential decline of around A$2 million, especially if needed for Argentina investment," the company said in a statement to the Australian Stock Exchange on Monday.
Ainsworth Games mentioned "initial gains" in sales expected in May following a contract revision with GAN Nevada, Inc., a subsidiary of interactive internet gaming provider GAN Ltd.
In its most recent document, it mentioned "significant instability and macroeconomic uncertainty" affecting Argentina, where it now has business interests. The country is experiencing high inflation and a significant devaluation of the local currency, the peso, against the U.S. dollar.
Ainsworth Games said in an update on Monday that it is expected to "record around A$13 million in investments in Argentina" in the first half of the year. The investments were made to hedge the Argentine peso's depreciation against the U.S. dollar and in response to increased restrictions within Argentina to limit the transfer of funds it holds in the region
Ainsworth Games, majority-owned by Austria's Novomatic Group AG, expects to report unaudited first-half figures on Aug. 29 after the market closes.