Ainsworth Game Technology secures $3.8M tariff refund
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- Gaming machine developer Ainsworth received a tariff refund of $3.8 million following a US Supreme Court decision.
- The refund reduced the company's net debt to approximately $8 million and supported a positive cash flow expectation of $8 million.
- Ainsworth expects to utilise the funds to improve its final financial results for the six months ended June 30.
Ainsworth Game Technology (ASX:AGI) received a $3.8 million tariff refund, reducing its expected net debt to approximately $8 million.
The refund was excluded from the May update due to timing uncertainties.
Ainsworth expects to report total revenue of approximately $116 million for the half-year period.
The group also projected underlying earnings before interest, tax, depreciation, and amortisation of approximately $17 million.
Following the announcement, the Ainsworth Game Technology share price was unchanged at $1.21.
The business announced multiple leadership changes, including appointing Graeme Campbell as chairperson in June.
Furthermore, the gaming firm terminated its transaction implementation deed earlier this year following ongoing review procedures.
