Aristocrat shrugs off economic uncertainty with strong growth

Poker machine manufacturer and online gaming company Aristocrat Leisure has shrugged off economic headwinds to post strong revenue and profit gains in the six months to 31 March, 2023.

The Sydney company reported net profit after tax and before amortisation (NPATA) up 14 percent on the previous corresponding period of $659 million.

This reflected in strong performance in its Gaming Americas business, resilience in mobile gaming arm Pixel United and ‘effective strategic investment in talent and technology’, according to a statement.

The profit came on revenue growth of 12 percent, or five percent in constant currency terms.

CEO Trevor Croker said: “Aristocrat delivered a quality result over the period, demonstrating the ongoing resilience, competitiveness and diversification of our portfolio, we we navigated challenging market conditions.”

Aristocrat has invested in diversify its business, with that diversification reflected in growth in the Americas offsetting challenging online businesses.

Croker said the company had faced considerable economic and political challenges during the half, including continuing conflict in Ukraine.

He said: Looking ahead, we will continue to navigate challenges with a focus on portfolio performance and capturing the significant strategic opportunities in front of us including delivering of our RMG (real money gaming) strategy with the proposed acquisition of NeoGames.”

NeoGames is an iLottery solutions and services provider to national lotteries.

Picture: Trevor Croker