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Argentina – Ainsworth considering how to handle Argentinean investments

By - 21 August 2023

As it considers to whow to handle its Argentina gaming business, Ainsworth Game Technology has issued a warning ahead of its six month financials to 30 June 2023, which are expected next week.

The Australian slot manufacturer expects to report a profit of AU$23m but has warned its financials will include AU$13m of investments in Argentina, which it needs to ‘protect’ due to ‘increased limitations within Argentina to restrict the transfer of monies held in this region.’

“Given the significant instability and macro-economic uncertainties in this region, the local currency within Argentina has resulted in a devaluation of these investments and the potential risks associated with recoveries have now increased, including recent developments of a reorganization petition being filed by the trustor which could impact recoverability,” Ainsworth said. “The company is pursuing the necessary actions to protect its investments and monitoring the situation and will provide updates to the market should any material adverse change occur.”

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