Ainsworth Expands Into New Jersey Online Casino World
Australian pokies machine manufacturer Ainsworth Game Limited has entered a new partnership in New Jersey. Ainsworth has partnered with Roar Digital to launch a series of exclusive online pokies in the New Jersey market.
New Jersey casino goers have enjoyed Ainsworth pokies for several years. The company has more than 2,900 pokies in North America with a significant number of those in The Garden State. This new partnership sees Ainsworth provide 20 exclusive online pokies for Roar Digital.
Roar Digital is a joint venture of MGM Resorts International and GVC Holdings. The relatively new company offers legal online sports betting and casino games. Roar and Ainsworth have wasted no time in making the new pokies live. New Jersey gamblers are enjoying pokies such as Electric Nights, Mustang Money, and Thunder Cash. The deal also extends to granting Roar Digital a period of exclusivity to launch Ainsworth titles across its network.
Jason Lim, the Online General Manager for Ainsworth is delighted to sign the deal.
“We are thrilled to be live across Roar Digital’s network in New Jersey. Ainsworth games have been extremely popular with New Jersey land-based players for several years and we’re excited for online players to have access to our proven and high-performing content.”
Matthew Sunderland, Director of Gaming for Roar Digital also welcomed the partnership.
“We are delighted to be able to launch exclusive Ainsworth online pokies title in New Jersey. We’re looking forward to giving our players some of the best and most recognised games in the industry. They will be a welcome addition to our already strong portfolio of games and are sure to be a major attraction and point of difference for our network.”
New Jersey Deal Will Boost Ainsworth’s Flagging Fortunes
The signing of the New Jersey deal comes only a couple of day since Ainsworth gave a business update. Ainsworth reported to the Australian Stock Exchange that the COVID-19 pandemic has had a profound effect on its business. As such, it is withdrawing guidance provided earlier in the year that it would return to being profitable for FY2020.
Ainsworth’s lack of profitability is not impressing its shareholders. Anyone who invested in Ainsworth shares five years ago is now nursing a 78 per cent loss on their investment. Other companies have also lost value, but the Ainsworth’s slide is quite spectacular.
The company cut its 2019 Q2 expected profits by a gargantuan $3 million. Ainsworth blamed “intense market pressure” for failing to get near its profit projections. That was in May 2019 and matters grew worse six months later when it revealed poor trading figures.
Revenue from its domestic business here in Australia plummeted 43 per cent to $36.1 million. These revenues ultimately resulted in a $2.8 million profit. Shareholders learned overall profit after tax fell by a massive 66 per cent.
Latest Half Year results announced in February don’t look to have drastically improved. Revenues are down nine per cent to $107.3 million. This is partly due to revenue in North America and Latin America declining six and eight per cent respectively. The COVID-19 outbreak is only going to make matters far worse.
Shareholders will hope this New Jersey deal will help give Ainsworth a much-needed boost.
Who Are Roar Digital?
Roar Digital is a joint project by MGM Resorts International and GVC Holdings. Roar Digital aims to revolutionise sports betting and online gaming in the United States, according to its mission statement. It launched in 2018.
It has access to all the MGM U.S. land-based resorts and is pushing its online operation aggressively. New Jersey is where Roar has its headquarters and where it powers many of BetMGM and Borgata games.
The group has all the ingredients to be a massive success. It has access to land-based casino around the world thanks to MGM Resorts. Roar also has the online expertise of GVC Holdings to push its product to more than two dozen countries.