Aristocrat’s H1 Financials Shine as They Benefit from Aggressive Expansion
Aristocrat Leisure, a global gaming solution provider, has announced positive financial results for the first half of the year. The company’s focus on diversifying its portfolio through strategic acquisitions has paid off, ensuring fiscal stability despite macroeconomic pressures. The North American operations performed exceedingly well, justifying further investments in the region.
During Aristocrat’s H1 2023 earnings call, the company showcased a robust performance across most verticals, delivering solid financial growth. In the six-month period ending 31 March, revenues reached $3.08 billion, a 12.2% increase compared to last year. EBITDA also fared well, rising 5.7% to $1.03 billion, showcasing the company’s solid foundations. Pre-tax profits soared by 42.6%, reaching $852.8 million.
Aristocrat Leisure’s North American operations have been a key growth driver, capitalizing on increased consumer spending and a resurgence in demand for gaming products and services. Frequent high-profile partnerships helped the company establish a presence in over 55% of the US iGaming market. Aristocrat hopes to raise that figure to at least 70% within five years, solidifying its leadership position.
Anaxi, the company’s real money gaming (RMG) division, performed spectacularly well, more than justifying 2022’s $42 million invested in its operations. Its collaborations with leading operators like Caesars and FanDuel were a testament to the quality of its content. Aristocrat CEO and managing director Trevor Croker highlighted the importance of the online segment and Anaxi’s vital contributions to the group.
The impressive H1 financials should allow Aristocrat to pursue additional growth opportunities. The group recently announced its proposed acquisition of iGaming and iLottery solution provider NeoGames. If successful, the deal will significantly expand Aristocrat’s global reach and bolster the company’s RMG ambitions.
The 26.4% rise in Aristocrat’s US segment contrasts the relative stagnation in its Australia and Pixel United divisions and will shape its ongoing strategy. With a strong track record and a commitment to continuous improvement, Aristocrat Leisure is well-positioned to capitalize on future opportunities and thrive in a dynamic market environment.
Source: gamblingnews.com
