Wednesday 25. November, 2015

Aristocrat Leisure Experiences Rise in Earnings

Australian gaming operator, Aristocrat Leisure, has reported a significant boost to underlying net profit for the 2015 financial year compared to the previous year. It reported underlying net profit of $236.1 million, a 79 percent jump from the 2014 financial year. The rise in profits has largely been attributed to strong sales of its poker machines in Australia and North America.

In Australia, the company’s sale of poker machines rose 43 percent to 10,437 units. It regained much of its market share from rivals IGT and Ainsworth Game Technology. Significant share gains in Australia were largely attributed to its Helix Cabinet Machine and new games that performed well.

Strong performance in its North American business contributed to the rise in the company’s performance, particularly the acquisition of US-based VGT machines.

“Recent strategic investments – most particularly the successful acquisition and integration of VGT – together with increased, targeted design and development spend – have delivered ahead of our expectations,” stated Jamie Odell, head of Aristocrat.

The Class II machines run by VGT make Aristocrat less exposed to volatility that often characterizes the gambling industry. It has boosted recurring revenues for Aristocrat to 45 percent in the 2015 financial year, compared to 24 percent in 2014.

“The growth in the group’s recurring revenue base and strong cash flows provide the business with the capacity to consider additional organic and inorganic investments over the coming period, consistent with our strategy and shareholders’ interests,” Odell continued.

In 2012, Aristocrat acquired the US-based social game platform Product Madness in an effort to attract users of social networks such as Facebook who spend around AU$2.6 billion on digital casino-style games with no possibility of winning.

Mr Odell has suggested that Aristocrat will be looking for more pokie and social gaming sector deals moving forward.

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