Ainsworth Game Technology Limited (ASX:AGI) share price jumps on guidance update

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Ainsworth Game Technology Limited (ASX: AGI) shares have jumped 5.15% higher to $1.06 on Tuesday morning, after affirming its 2H FY18 and FY18 guidance.

Ainsworth said that it is able to reaffirm its earlier guidance, provided in May, for 2HFY18 Profit Before Tax to be around $20 million and for Profit Before Tax for the full year FY18 to be approximately $36 million.

At the time, Ainsworth stated that “This guidance assumes the Churchill Downs Inc (CDI) order as previously announced to ASX is completed in this financial year.”

The company confirmed the CDI order has been delivered and will be recognised in the FY18 financial results with CEO, Danny Gladstone, saying “We are pleased to complete this sale to CDI in this financial year and affirm guidance. CDI is an excellent partner for AGT in the North American market and we look forward to working closely with them.”

Ainsworth’s FY18 full-year results are due to be released to ASX after market close on 29 August 2018.

Other companies in the gaming arena that are making news today include Tabcorp Holdings Limited (ASX: TAH), which announced that its wholly-owned subsidiary Tatts Online Pty Ltd had exercised in full its option with Jumbo Interactive Ltd (ASX: JIN) to acquire approximately 3.5 million Jumbo shares at an exercise price of $2.37 per share.

Tabcorp said it has sold approximately 2.9 million Jumbo shares to a group of institutional investors, and now holds 12.49% Jumbo shares on issue, with no plans to sell any of its remaining shareholding in Jumbo.

Jumbo Interactive shares are sitting 19 cents or 3.82% lower at $4.78, while Tabcorp’s share price is currently 0.45% higher at $4.51. 

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Lauren Surplice is a keen follower of the stock market, investing in individual companies and funds. She follows the daily stock market news, covering the ASX stocks that are moving the markets. You can contact Lauren at laurens@thecapitalclub.com.au