Can Ainsworth’s Stocks Continue to Increase?
Ainsworth is one of the oldest poker machine developers in the market today, having been around for other 50 years. The company has experienced plenty of growth and success recently, and shows no signs of slowing down – making it a great time to invest in its stock.
Earlier this year, the Association of Gaming Equipment Manufacturers (AGEM) announced a record high. Over the course of just one month from May 2017 to June 2017, its composite index reached 421.95 points – an 8.1% increase. Overall, there was a year-over-year increase for the 21st month in a row of 161.94 points (or 62.3%%).
Ainsworth is one of the association’s Gold Members, along with Konami, Aristocrat and Scientific Games. Each of these company has experienced tremendous growth this year, thanks to the introduction of exciting new games like Space Invaders and The Simpsons that have premiered at land-based casinos around the world.
There has been plenty of signs that Ainsworth will continue to see an increase. For example, the company has recently announced sponsorhip with Tulalip Resorts Casino in Washington for central determination gaming system testing. This will allow the company to offer its games to casinos across the state. This marks further North American expansion for this Aussie-based brand, and is sure to have a positive effective on its profits long term.
Investment advice site The Fool states that gaming machine manufacturers are in a great position right now, and it is certainly time to buy. According to financial expert James Mickleboro, Aristocrat is the one to watch and it would be wise to invest in this company before taking a look at Ainsworth. The company has seen a 50% increase in its shares since the start of 2017 and, while it may be expensive, the stock is on an upwards trajectory which means it might not be this affordable anytime soon.
Ainsworth is seeing similar expansion and development, so it is certainly a stock to keep an eye one. As Ainsworth is known for effectively turning shareholder investment into profit, it is a wise choice. Still, it is advised that investors hold off for a short while to see if Aristocrat will maintain its growth, and if Ainsworth can follow suit.