Ainsworth Game Technology secures $3.8M tariff refund

• 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.