Ainsworth Gaming eyes online social casino sector

Ainsworth Game Technology, an Australian gambling equipment and games supplier, is to enter the online social casino sector with two offerings, the first scheduled to launch early next year, titled Players Paradise.

Revealing his company’s intentions this week, Ainsworth CEO Danny Gladstone said that earlier this year Ainsworth had partnered with digital platform provider 616 Digital in a joint venture to enter the social casino sector.

Paradise Player will offer social punters the best in both desktop and mobile gambling technology, he said.

Earlier, Ainsworth Game Technology warned shareholders that profits would be lower in the first half of the financial year. The warning triggered a slide of 12 percent in the company’s shares, compounding a decline of some 40 percent over the past year for the A$876-million company.

“Domestic revenue for the first half of 2014-15 is expected to be similar to the second half of 2013-14 and down approximately 30 percent compared to the previous corresponding period,” Gladstone told shareholders.

Analysts said they expected first-half net profit, excluding one-off items, to dip 12 percent to A$31.3 million. The full-year revenue was forecast to rise 12 percent to A$277 million, analysts predicted, noting that the company hopes to launch a series of new games to boost income, including offerings based on famous movies such as The Sound of Music and Showgirls.

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