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Aristocrat profits jackpot as gambling grows in Australia, US

Business

Aristocrat Leisure investors are set for a bigger payout,as strong growth across the company’s US-based and digital gaming channels lifted full-year profit 29 per cent to $699 million.

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The global gambling giant said revenue was up 22.7 per cent to $4.4 billion for the year to September 30 as its key Americas, Australia and New Zealand, and digital businesses grew, supported by currency and tax benefits.

The company will pay a fully franked final dividend of 34 cents, up from 27 cents a year ago, news that helped its share price climb by 5.88 per cent to $33.67 after 10 minutes of trade on Wednesday.

Aristocrat chief executive and managing director Trevor Croker said the company had benefited from new segments and genres of gaming, including role-playing game RAID: Shadow Legends.

Croker said the company has made significant strides in bedding down recent digital acquisitions, leveraging critical skillsets, and establishing a diversified portfolio approach.

“Across digital, we anticipate further growth in digital bookings supported by scaling of recently released new games,” the company said in a note.

“Throughout the year, Aristocrat strived to meet the evolving needs of customers and players by investing in our product portfolios and expanding into attractive new segments and genres.”

The company also said its reworked tax structure – implemented this week to reflect the company’s growing American operations – would help reduce costs going forward.

Aristocrat said the changes will not impact the amount of Australian tax the business pays.

-AAP

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