Delays to government approvals for new poker machines have sparked a profit warning from developer Ainsworth Game Technology.
The company says regulatory delays in Queensland and NSW that affected its Australian sales in the first half of the financial year had continued into the second half.
Chief executive Danny Gladstone said Queensland approvals had been expected in December, but they did not come through until March.
"So we missed the jump, and we never caught up," he told AAP.
"Some of the larger corporate customers didn't purchase what they forecasted.
"Our opposition picked up a bit of the slack on the way, from us."
Ainsworth expects its net profit for 2014/15 to be similar to the $61.6 million made in 2013/14, while revenue is likely to be about two per cent lower than in the previous year.
The company had previously forecast revenue to rise in the second half of the current year, and its shares fell sharply, dropping 21 cents, or 6.95 per cent, to $2.81.
Queensland and NSW are Ainsworth's largest domestic markets, and all regulatory approvals have now been obtained.
The company is confident new products across all Australian markets will generate growth and market share gains in the 2015/16 year.
Ainsworth's international operations are faring better.
Overseas sales remain robust, with strong momentum continuing into the second half of the current year, the company said.
Revenues from key growth markets in the Americas and Asia are on track to increase by more than 40 per cent for the full year.
"Given robust international sales and the positive outlook for domestic sales, Ainsworth expects to deliver strong organic revenue and profit growth in the 2016 full year," the company said.
Share
