The growth in Aristocrat Leisure’s North American operations led to a 27.3% rise in net profit at A$653,0m (PS348.3m/ EUR400.1m/ $533.2m), in the half-year results.
Aristocrat stated that H1 results showed the “resilience and competitiveness” of the portfolio, in spite of challenging market conditions.
Trevor Croker, chief executive officer and managing directors of the company, highlighted the importance of its subsidiary Anaxi to its success. Aristocrat’s Real Money Gaming (RMG), division is responsible for the organisation.
The business spent $42 million in the organization last year and another $240 million in user acquisition.
Online segment drives growth in North America
He said that “Our newest operating company, Anaxi, met its initial commitments to enter the market and laid solid foundations for growth.”
The agreement with the partners represents over 55% of the US igaming industry. We are on track to surpass , our goal of reaching at least 70% of the North American regulated jurisdictions in the next five-year period.
Crocker stated that the results were achieved in spite of a challenging operating environment.
He added: “Our teams had to deal with considerable economic and politic uncertainty, including the continuing conflict in Ukraine. I am extremely grateful for their efforts.”
Croker said, “We will continue to navigate through challenges while focusing on portfolio performance. We’ll also seize the strategic opportunities that are in front of us. This includes delivering on our proposed acquisition of NeoGames which was announced earlier this week.”
Aristocrat H1 sees strong revenue growth
Revenue for the six-month period ended 31 March was up 12.2%, from $2.75bn to $3.08bn. The company also highlighted its Outright Sales Division’s role in this growth.
Aristocrat’s Americas segment accounted for the majority of revenue, with $1.45bn. This represents a 26.4% increase from the previous year. The other two significant segments, Australia and Pixel United, shrank by 0.5% each and grew by 0.7%.
Aristocrat reported earnings before interest tax, depreciation, and amortization (EBITDA), of $1.03bn, an increase of 5.7% over the previous period.
The result was a pretax profit increase of 42.6%, resulting in $852.8m and a profit after tax of $653m. Crocker emphasized the importance of investment over other factors in achieving this result.
The benefits of our investment in growing and diversifying Aristocrat’s revenue base were particularly evident in our ability over the past half-year to deliver stable EBITDA and solid revenue growth in constant currency. Aristocrat Gaming Americas continued to perform well, more than compensating for the challenging conditions in the mobile gaming market.
