An Australian gaming device provider, Ainsworth Game Technology (AGT), has obtained a fresh credit facility, superseding its prior agreement with ANZ. This new five-year arrangement with Wells Fargo holds a value of US$35 million.<\/p>\n
From this sum, US$28 million has already been utilized to settle the remaining debt AGT held with ANZ.<\/p>\n
Although the new contract is with Wells Fargo, AGT’s subsidiary in the United States will serve as the borrowing body. The Australian parent companies of AGT will function as guarantors.<\/p>\n
Additional specifics regarding the new financing structure are anticipated when Ainsworth publishes its unaudited financial outcomes on February 25th.<\/p>\n
This development follows AGT’s earlier disclosure this month, revealing AU$24 million in cash reserves and AU$15 million in net liabilities as of December 31st, 2020.<\/p>\n
During the six-month period concluding on December 31st, 2020, AGT generated US$72 million in revenue. This figure signifies a 71% surge year-over-year, yet still reflects a 33% decline compared to the corresponding period in the preceding year. The company anticipates earnings before interest, taxes, depreciation, and amortization (EBITDA) of US$6 million for the initial half of the 2021 fiscal year. <\/p>\n","protected":false},"excerpt":{"rendered":"
An Australian gaming device provider, Ainsworth Game Technology (AGT), has obtained a fresh credit facility, superseding its prior agreement with ANZ. This new five-year arrangement […]<\/p>\n","protected":false},"author":70,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\n