Australia-based slot machine maker Ebricat Lessure Ltd on Tuesday reported unaudited after-tax losses of A$16.4 million (US$14.1 million) in the 12 months to Sept. 30. It posted after-tax profits of A$177.2 million in the same period last year.
The company cited A$78 million impairment in the value of its pachislot business in Japan “due to uncertainty in the regulatory environment,” a loss of A$43.4 million to dispose of its lottery business for Playtech Plc in September and A$13.1 million in transaction and restructuring costs related to the acquisition of U.S. casino game maker Video Gaming Technologies (VGT).
The aristocrat said after-tax profits of A$118.1 million would have been normalised without these costs.
Revenue for the period was A$870.3 million, up nearly 7% from A$813.8 million a year earlier. Interest, taxation, depreciation and amortization (EBITDA) increased 11.5% to A$299.8 million from A$188.1 million a year earlier.
The company added that operating cash flow was up 61.7% due to higher revenue and “cash management initiatives.”
The aristocrat approved a final dividend per share of AUD0.08, which represents a dividend rate of 76%.
Despite “some deregulation in Macau,” the aristocrat said it had maintained its top Asian market share during the period, adding that there had been few new openings in the region during the corresponding financial year.
Outside of North America and Australia, sales of “Class III” machines, a term referring to slot machines supplied to the commercial casino industry, fell 18.4% and revenue fell 26.6% compared with the previous period due to “decreased Asia-Pacific sales and weak European markets.”
However, Jamie Odell, Chief Executive Officer and Managing Director of Aristocrat Leisure, said in a statement alongside the results that the company had “made a number of important decisions” during this time to better position its business for growth.
“The acquisition of VGT shortly after the end of the year [of finance] was a bold step forward. We were also able to reduce future risks and business disruptions by disposing of our non-core lottery business and adjusting the book value of our unique and volatile Pachislot business in Japan.”
Odell expected market share performance to rise further in fiscal 2015, but warned that “generally, it will be constrained by flat or weak demand from several major sectors.” 카지노사이트 모음
“Aristocrat will continue to focus on what we can control, including improving our portfolio focus, competitiveness and revenue mix throughout 2015,” he added