Ainsworth, based in New South Wales, has appointed Macquarie Capital as its financial advisor to review potential opportunities. No expressions of interest have been received from potential buyers. The company’s board of directors confirmed the review following a report suggesting the possibility of going private due to challenging market conditions. The review will explore strategic alternatives to maximize shareholder value, including organic and inorganic options.
Ainsworth’s share price increased by 22% after announcing the review. The company’s recent financial results showed a significant increase in revenues for the first half of 2023. However, profits were impacted by investments in Argentina. North America is the strongest revenue contributor, accounting for 48% of total revenue.
Ainsworth is focusing on research and development (R&D) investment, including the development of Next-Gen Game and Mathematics engines and increased collaboration with external content and game development providers. The company is also investing in hardware and cabinet design for global markets. R&D spending in the first half of the year increased by 4.5% compared to the previous year.
Under the leadership of CEO Harald Neumann, Ainsworth is confident in the progress made in improving earnings and believes that continued focus on R&D will drive further improvements.
