Ann: AGI Chairman and CEO AGM Addresses to Shareholders, page-45

Well the share price is discounted heavily on the resurgence of ALL in the domestic market, mainly due to the big success of the suite Lighting Link of games. As you say, correctly, the international market is far more relevant going forward, and AGI is well placed it seems.

ALL's use of licensed branding is one strategy, however the most popular games have almost never been branded. For instance, ALL's Big Red or AGI's Mustang Money. ALL do have a slicker sound and appearance however, you have to pay dearly for this in terms of the share price. I believe AGI's point of difference really is it's intergration of more jackpots/bonuses into the games on any given spin , along with solid base games. This has been eroded by the Lighting link game. AGI will need to wheel out a new format of game equally engaging in terms of frequent jackpots, base game feature, stacked wilds, near misses and anything else they can come up with. From my experience people love sitting on a machine that has a jackpot that starts at say $500, and has 'grown' to over $1000, they glue themselves to them in order to win it because of the perception it has more chance of going off. Lightning link has done this exceptionally well with the 'Major' jackpot within the game, which can be won within any given Lightning feature. This is just one of the hooks Lightning Link employs.

I can't really comment on the daily 'sales' per machine question specifically. Good question. But I will say that AGI is a challenger brand, and a massive market leader energised by a fortunate game release is going to look really attractive on the finnacials side, compared to a company more on the back foot with game formats a few years old now.

I think this is a great contrarian oppotunity. Ainsworth make quality machines, and the shares are heavily discounted given the international prospects of the business.

Cheers.