Aristocrat Leisure Limited, an Australian gaming device manufacturer, forecasts a deficit of AUD$15 million (US$11 million) for the half-year concluding December 31, 2020. This is primarily attributed to the continuing repercussions of the COVID-19 outbreak on the brick-and-mortar gaming sector.
The firm anticipates the demanding market circumstances encountered in the latter part of 2020 to persist into the initial half of 2021. Nevertheless, they are hopeful about enhanced results for the complete 2021 financial year, based on the present situation in North America. Latin America, conversely, is still grappling with extensive COVID-19 infections, which will probably influence commerce through the close of 2020.
Lawrence Levy, AGT Chief Executive Officer, foresees 2021 to be a period of two segments. The initial segment will be concentrated on managing the resumption of enterprises, while the latter segment will witness a return to expansion as the sector adjusts to a “new standard.”
Despite the present obstacles, AGT trusts its robust standing, stable financial status, and dedication to advancement will place it favorably for resurgence as locations reopen and consumer expenditure rises.
The previous year proved challenging for AGT, as 2020 concluded with a deficit of $43.4 million. This stands in stark contrast to the $10.9 million gain reported in the preceding year. Revenue also experienced a significant decline, plummeting by 36% to reach $149.4 million.
admin