Ainsworth Game Technology Announces Completion of Debt Restructuring Plan with U.S. Bank
LAS VEGAS – Ainsworth Game Technology (ASX: AGI) (“Ainsworth”) recently announced the completion of a loan restructuring to refinance existing debt and better position the company for its strategy of recovery and continued growth.
The $ 35 million credit structure was facilitated by Western Alliance Bank and Bank of Nevada, a division of FDIC member Western Alliance Bank, marking the first time Ainsworth has chosen a US-based banking institution. to manage their credit needs.
This decision demonstrates Ainsworth’s commitment to the large US market and its valued customer partners in the region. Ainsworth has focused on growth in the United States and Latin America over the past decade, evidenced by the establishment in 2016 of a North American headquarters in Las Vegas.
Over the past few years, over 70 percent of the company’s revenue has been generated in the Americas, and Ainsworth has successfully entered a number of new North American markets, including Class II tribal games and horse racing. historical.
“The refinancing provides the certainty and flexibility to deliver on our expected growth plans and the rollout of the group’s innovative and new gaming products,” said Ryan Comstock, COO of Ainsworth. “The new credit agreements should help build stronger banking relationships in Las Vegas to support key markets in North America and Latin America.”
“Western Alliance Bank is a banking leader in the historic horse racing terminal (HHR) space, and the opportunity to work with Ainsworth, one of the leading manufacturers of HHR, makes our partnership truly unique,” said Ashan Perera, Managing Director of Western Alliance. Bank games group. “We are honored that Ainsworth has chosen Western Alliance Bank as the bank of choice in North America to meet all of its banking needs. “
About Ainsworth Gaming Technology
Ainsworth Game Technology Limited (ASX: AGI) (“Ainsworth”) is an Australian publicly traded company headquartered in Newington, Sydney, Australia. Ainsworth offices are located around the world, including the United States and Latin America. With a fully integrated operation including design, development, assembly, testing, sales and field service; Ainsworth encompasses the entire product development cycle, from design to installation, service and support
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