Australia
Ainsworth Expects Increase in H2 Revenue
Ainsworth Game Technology Ltd expects its second-half profit before tax to be down sequentially, despite an increase in revenue.
The Australia-listed firm said it anticipated profit before tax for the six months to December 31 – excluding currency exchange impacts and one-off items – to be in the range of AUD8 million (US$5.2 million) to AUD10 million. That would be in comparison to the AUD14-million profit achieved in the first half this year.
Revenue for the July to December period is expected to “show an estimated growth of 12 percent” compared to the AUD121.4 million reported in the six months to June 30, Ainsworth said in a Wednesday filing.
The company said the estimate was “based on preliminary management forecasts, subject to period end closure and audit procedures”.
“These results reflect the positive momentum achieved across the business,” stated the firm.
It added: “All geographical regions experienced solid growth in the period apart from the digital segment which suffered an initial decline following the reduced contributions from Game Account Network Ltd (GAN), following the acceleration of revenue arising from the termination of exclusivity arrangements reflected in the first half of calendar year 2024.”
Ainsworth however noted that gross margins were “negatively impacted” compared to the first half of 2024, “which was the primary factor contributing to the lower profitability experienced in the period”.
The firm said it expects full-year 2024 gross margin to be “approximately 62 percent” compared to the reported margin of about 67 percent in the first half this year.
“The forecasted margin has been adversely affected by a range of factors, including product mix of products sold within Latin America, competitive market conditions and the under recovery of production variances expensed in the current period,” noted the gaming supplier.
Ainsworth’s chief executive, Harald Neumann, said: “I am encouraged by the growth in revenue in the period and expect growth to continue in coming periods as we release the next suite of game offerings across our global markets.”
Mr Neumann said the initiatives undertaken by the company were showing “progressive improvements in game performance” within the markets where the company operates.
“Additional game releases and hardware initiatives are expected to maintain the growth experienced in coming periods,” added the CEO.
In Tuesday’s filing, Ainsworth also said it had “experienced a cybersecurity incident,” which was “currently under investigation and assessment”.
“Despite some disruptions experienced in internal business systems and operations, through cautionary measures implemented, it is currently not expected that this incident will have any material adverse impact on the forecasted results” for the second half this year, stated the firm.
The post Ainsworth Expects Increase in H2 Revenue appeared first on European Gaming Industry News.
Australia
NSW: Minns Government Moves to Ban Gambling Advertising from Trains
The Minns Government has moved to ban gambling advertising on public transport in NSW.
The prohibition applies to Transport owned and controlled assets, including internal and external advertising on trains, metro, buses, light rail, train stations and ferry terminals.
Transport operates one of the largest portfolios of advertising assets across Australia. This includes 798 advertising boards at Sydney train stations, 49 road facing digital billboards, adverts on up to 3711 urban buses, 76 trams and across the Tangara train fleet.
The ban extends to all casino, lottery and online betting advertising.
The NSW Government will now work with multiple advertising contract holders to implement the required changes over the next 12 months.
Transport’s advertising suppliers must ensure that all advertising material complies with all applicable laws, accepted industry standards and codes of conduct established by the advertising industry for example, the Australian Association of National Advertisers (AANA) Advertiser Code of Ethics and AANA Code of Ethics Practice Note.
There are also additional rules that apply to Transport’s contract holders. These include a ban on political advertising on all assets, which applies equally to all political parties.
Where assets are not owned by Transport (e.g. bus stops, retail outlets or nearby private property), the NSW Government will work with the relevant entitles to see how their advertising can align with the gambling advertising ban.
This is the latest in a suite of reforms introduced by the Minns Labor Government to reduce gambling harm. The reforms include:
• reducing the statewide gaming machine entitlement cap in June 2023
• banning political donations from clubs with electronic gaming machines on 1 July 2023
• reducing the cash input limit on new gaming machines from $5000 to $500 on 1 July 2023
• banning all external gambling signage in venues on 1 September 2023
• banning the placement of any signage or advertising relating to gaming machines either on, or visible from an ATM or EFTPOS terminal with cash withdrawal facilities and introduced Responsible Gambling Officers for venues with more than 20 machine entitlements, on 1 July 2024
• requiring Automatic Teller Machines (ATMs) or EFTPOS terminals that allow cash withdrawals to be placed at least 5m from the entry to a gaming room and not be visible from any machine or entry to a gaming room, from 1 January 2025
• established an Independent Panel to conduct a trial of cashless gaming in pubs and clubs throughout 2024
• committing $100 million to harm minimisation – investing in research, treatment, services and reform.
Minister for Transport Jo Haylen said: “Gambling advertising has been a common sight on our public transport for a couple of years now, and I’m pleased our Government is taking action to remove it. Parents are rightly worried about the impact it has on their kids, so its not something that we think that needs to be on our transport network.
“With over 3500 buses, close to 800 advertising assets at train stations, as well as advertising on light rail and trains, Transport’s advertising contracts are vast. Because of the scale it will take some time to implement this change, but we will be working closely with our contract partners over the next 12 months to get this done.”
Minister for Gaming and Racing David Harris said: “Removing gambling advertising from public transport is another demonstration of the Minns Labor Government’s commitment to reducing gambling harm in NSW.
“This move will reduce the public’s exposure to gambling advertising and builds on the suite of reforms the government has introduced over the past 20 months to reduce harmful impacts of gambling.”
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Australia
VGCCC: Bookmaker Fined for Customer Safety Breaches
Registered online bookmaker VicBet has been fined $130,000 for 2 breaches of its customer care obligations.
Announcing the fine, Victorian Gambling and Casino Control Commission (VGCCC) CEO Annette Kimmitt AM reminded the gambling industry of the potential for people to experience severe harm when rules are not followed.
“Breaches can have serious consequences, not only in terms of punitive actions against the companies we catch out, but for people whose lives are affected by this behaviour,” Ms Kimmitt said.
“It is an egregious betrayal of trust, for example, to continue to send marketing materials to a person who has self-excluded from a gambling venue or closed a betting account.”
The VGCCC’s investigations into complaints about VicBet found the bookmaker had:
• offered and provided a $1,800 bonus bet to a customer after they asked for their betting account to be closed in September 2022. VicBet was fined $50,000.
• repeatedly sent gambling promotional material to a customer after they permanently self-excluded from VicBet in March 2020. The penalty was an $80,000 fine.
It is an offence for a bookmaker to encourage or offer any credit, voucher or reward, or other benefit to induce an account holder to keep an account open after they have requested its closure.
Similarly, sending correspondence or promotional material to customers who have self-excluded contravenes the Victorian Bookmakers’ Association Code of Conduct.
“On these occasions, VicBet failed to live up to both its legal and social licences to operate, which include minimising the risk of harm to customers,” Ms Kimmitt said.
“Industry must respect the wishes of people who decide to have a break from, or quit, gambling. This means taking all reasonable steps to enforce harm prevention initiatives that customers commit themselves to, such as self-exclusion programs.”
VicBet was given the opportunity to “show cause” as to why disciplinary action should not be taken. Submissions from its legal representative were considered prior to a determination being made.
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Australia
Michael Fitzsimons Joins Tabcorp as Chief Wagering Officer
Tabcorp Holdings Limited has appointed Michael Fitzsimons as its Chief Wagering Officer.
Mr Fitzsimons will oversee all core wagering functions including digital, retail, tote, trading, product and marketing. The position is part of the company’s evolved Executive Leadership Team structure, which was announced in December last year. The simpler structure will ensure all wagering functions will fall under one executive.
Mr Fitzsimons has over 20 years of global sports betting experience across the EU, US and Asia. He is currently Executive Director Wagering at Hong Kong Jockey Club (HKJC) where he leads strategy, trading, marketing, data and product development for fixed odds, parimutuel and lottery products.
His current role encompasses oversight of one of the world’s largest totes, including the World Pool platform, along with Risk Management of China Sports Lottery’s 120,000 betting branches. Prior to his role at the HKJC, Mr Fitzsimons was Director of International Trading and Operations at The Stars Group. During this time, he successfully launched the PokerStars Sportsbook and relaunched SkyBet in Germany and Italy. Mr Fitzsimons is on the executive of the World Tote Association (WoTA).
Tabcorp Managing Director and Chief Executive Officer elect, Gillon McLachlan, said: “Michael Fitzsimons is one of the world’s most sought after wagering executives and brings extensive global sports betting experience to Tabcorp. He has a deep knowledge of international sports betting, trading and tote. Michael is a rare find – he knows digital and retail wagering and is one of the few people in the world who can connect both to grow a wagering product.
“The creation of a Chief Wagering Officer is a significant uplift in wagering capability within our executive team. The simpler vertical structure brings all levers that grow wagering together under one executive to ensure first class execution.”
Mr Fitzsimons is expected to commence in the first half of 2025. His appointment is subject to relevant regulatory and probity approvals.
The post Michael Fitzsimons Joins Tabcorp as Chief Wagering Officer appeared first on European Gaming Industry News.
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