Ainsworth invests in business for future growth

Andrew Stanley

Ralton Asset Management Limited

Gaming machine manufacturer, Ainsworth Game Technology (ASX:AGI), has recently welcomed European domiciled, Novomatics, to its share register after acquiring founding shareholder, Len Ainsworth’s, 53% equity holding. AGI is aiming to deliver material synergies including cost savings, access to an extensive software library and sales into Europe. Together with a likely bottoming of market share in Australia in coming periods and a strong outlook for market share gains in the US, we have a positive outlook for AGI on a multi-year view. Similar to Aristocrat Leisure (ASX:ALL) several years ago, we see AGI as investing appropriately in research and development (new products) at the bottom of its market share cycle as a lead indicator for future revenue growth. This remains subject to execution, which we continue to monitor. (VIEW LINK)

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Andrew Stanley
Head of Australian Equities
Ralton Asset Management Limited

Andrew has been with Ralton since its inception in 2006 and leads the investment management of Ralton’s managed accounts. He brings over 25 years of funds management and investment banking experience having held senior positions with major...


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