Ainsworth Game Technology, an up-and-coming game provider in the online casino game market, has officially disclosed that they have signed into a five-year loan with the American lender Western Alliance Bancorporation, also known as WAB.
As part of the credit agreement, $35 million will be provided to the borrower, Ainsworth Game Technology Inc. The parent companies within the Ainsworth Game Technology group, namely AGT Pty Ltd and Ainsworth Game Technology Limited will play the role of guarantors in the loan agreement.
Of the $35 million borrowed, $28 million of it is essentially going to be put aside to resolve an existing loan issued by the Australia and New Zealand Banking Group Limited (ANZ). Ainsworth spokesperson stated that more details on the credit facility will be revealed in the near future when Ainsworth releases their unaudited financial reports.
Ainsworth is a publicly listed Australian company that reported cash reserves of AUD$24 million at the close of the financial year 2020. They also published a net debt of USD$15 million. On a positive note, for those vested in the company, they reported a revenue of $72 million which is a 72% hike from quarter 2 of the financial year 2020.
Ainsworth Game Technology is a leading supplier of gaming solutions in Europe, Australia, North and Latin America. They essentially develop and supply online casino games and software to online casino operators based in the said regions. Their headquarters is in Newington, Sydney, Australia.
Ainsworth holds over 275 licenses globally and is in the process of securing more licenses. Licenses are the key to stability and future expansion in the highly regulated online casino industry. AGT is the primary actor involved in all steps of the development and deployment process of their gaming solutions. They develop their games from concept through to installation, service and support. Their games not only incorporate the latest technologies but are focused on appealing to players.
The demand for at-home gaming solutions has sky-rocketed since the start of the Covid-19 pandemic with millions of people setting up high-end gaming rooms in their residences. This has no doubt pushed Ainsworth to look for more and more solutions and develop more products.
AGT also has offices in New Zealand, United States, South America, Europe and Macau.
Ainsworth are known for the quality and caliber of their slots. Some of the highlights of their games include being fully mobile-optimized, having an intuitive and practical user interface, and the fact that many of their slots are progressive jackpot slots that can pay out huge sums of money. On the other hand, some of the drawbacks of their game library are the fact that the game catalog is limited to video slots and cabinets only, and that they have a comparatively lower RTP. We do hope to see Ainsworth also develop other categories of online casino games such as table games, video poker games, bingo, live dealer games, etc.
Since video slots are their forte, let us take a look at some of the AGT’s most successful and popular video slots thus far.
Mustang Money Slot: This is arguably one of AGT’s most popular ever titles to have been released. It is an American-themed five reel slot with three rows and a return to player percentage of 94.3%. The simple reel layout and user interface make this slot especially popular amongst older players. You can score a max win of 10,000 times your stake. The highest stake you can wager in one spin is a whopping $10,000. One of the main reasons for the slot’s popularity is that it is suitable for players of budgets. As mentioned, high rollers can really go big and make a total bet of $10,000 across 100 paylines in a single spin. On the other hand, conservative players who like playing small and mostly for entertainment can bet as little as $0.01 on a spin. The game also packs plenty of special features such as free spins, wilds, scatter, and multipliers. The symbols are all iconic American things like the Mustang car, the Dollar symbol, the American Eagle, etc.
Dragon Lines Slot: Dragon Lines slot is similar to Mustang Money in terms of the reel layout and user control panel. This is another typical video slot that has all the trademark features and styling associated with AGT. The fiery red reel set is adorned with Chinese-themed dragons. You can bet on one payline or on a hundred in a single spin. Therefore, the betting range is pretty vast with a minimum bet per spin of $0.01 to a maximum of $10,000 per spin, which makes a slot for all budgets. The Dragon Symbol substitutes for all symbols except for the scatter. The Yin Yang symbol denotes the scatter. Land 3 or more Yin Yang’s to trigger the free spins. During the free spins game, if you land another 3 Yin Yang symbols, you will be rewarded with an additional 5 free spins. Dragon Lines slot has a return to player percentage of 94.3%.
A few other popular games from AGT include Cash Cave, Eagle Bucks, Mighty Wilds and Safari Spirit. Most of these video slots are 5×3 reels. We do hope with the newly acquired credit resources, Ainsworth will come out with more innovative and different slots that should propel their growth and cement their position as one of the industry’s best game developers.