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Slot Machine Manufacturer Sees Loss

The slot machine manufacturer Aristocrat Leisure Ltd. has reported a loss for the second half of the year. They have reported that it is due to a lawsuit that the company had with the United States. The slot machine manufacturer had a loss of $112 million in the six months ended December, which is obviously a significant loss.

The slot machine manufacturer said that a big portion of their loss was because of a lawsuit that was brought against them by the US for bond holders who said that the slot machine company had terminated their rights to convert the debt to equity.

In addition, the slot machine manufacturer saw the number of slot machines purchased dropped drastically. They saw a 17% drop in slot machine purchases, which equaled well over $100 million. The slot machine manufacturer said that this year is going to be another tough year for them as they try to turn around the way that the company has been going.

The slot machine manufacturer said that they are looking at a plan to turn the company around within the next 3-5 years and that last year was only part of it. They say that this year will undoubtedly see losses as well, but they said that you can see the difference in the price of their stock which has gone up 11% this year. They said that their tax, depreciation, and amortization dropped 38%. Their Australian earnings rose 52%, while their Japanese division dropped 57%. They said that they were expecting the drop in slot machine purchase revenue and the affect that the lawsuit was going to have on them, so the loss did not come as a surprise.

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