AGI have been making a great song and dance over the past few years (see their latest annual results presentation) about their historical horse racing (HHR) machines and have recently called out that H1FY21 would see further contracts for more units. But these recent developments don't bode well for AGI given the court deemed that HHR machines such as those made by AGI are not legal. Churchill Downs, which operates HHR machines, dropped 9.74% of the back of this news. And AGI has claimed that these HHR machines are a major highlight in their North American business.
The courts decision to declare HHR machines (such as those produced my AGI) as being illegal is likely to have a significant impact on AGI's North American revenue.
AGI Price at posting:
33.0¢ Sentiment: Sell Disclosure: Not Held
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