Published
FinancialMergers & Acquisitions

Ainsworth enters into five-year secured credit facility worth US$35m

Ainsworth Game Technology (AGT) has announced it has entered into a new five-year secured credit facility worth US$35m with US-based lender Western Alliance Bancorporation (WAB).

ainsworth news

In the new WAB facility, the Australian slot machine maker’s US-based operating subsidiary, Ainsworth Game Technology Inc., is established as the borrower and party to the relevant credit agreements. 

Its parent entities within the AGT Group - AGT Pty Ltd and Ainsworth Game Technology Limited - will serve as guarantors.

“Proceeds of US$28 million from this new facility have been used to extinguish all company obligations under the prior revolving credit facility with Australia and New Zealand Banking Group Limited (ANZ),” Ainsworth said in a Friday filing to the Australian Securities Exchange.

Ainsworth announced it will release further details on this new facility when it reports its unaudited financial results on 25 February.

Earlier this month, the Australian publicly listed company reported cash balances of AU$24m as of 31 December 2020, with net debt of $15m. And for the six months to 31 December, AGT revealed revenue of $72m, a 71% increase from H2 FY20, but a 33% year-on-year decline. It also expects to report an underlying positive EBITDA of $6m for H1 FY21.

Premium+ Connections
Premium

1xBet Partners

 
Premium

Galaxsys

 
Premium

Sport Generate

 
 
Premium

RISK

 
Premium

Revsharks

 
Premium

Lynon

 
Premium

GammaStack

 
Premium

Digitain

 
Premium

Imagine Live

 
Premium

PIN-UP Partners

 
Premium Connections
Consultancy

SCCG Management

Executive Profiles
Zeal Network SE

Stefan Tweraser

VIP Play

Les Ottolenghi

Scientific Games

Keshav Pitani

Social & App

Spribe CEO exclusive: Simplicity is the foundation

Spribe CEO David Natroshvili speaks to Gambling Insider abou...

Redefining iGaming: A history of crash games

Crash games is a growing vertical that has taken gambling by...

A certain something: What makes crash games special?

Crash games. They’re simple, they’re easy to learn and,...

Smarter innovation to shape the future

Spribe CCO Giorgi Tsutskiridze discusses the past, present a...

Facing Facts: The corner of quarterly contemplation

With Q1 reports out across the industry, Gambling Insider co...

Taking Stock: A guide to key stock prices across the industry

Gambling Insider tracks prices from some of the industry’s...

15 years of Gambling Insider: From the Founders

Over the last 15 years, Gambling Insider magazine has interv...

15 years of Gambling Insider: The Awards over time

Global Gaming Awards Event Manager Mariya Savova gives us he...