Aristocrat Leisure reports 21% year-on-year increase in net profit

For the fiscal year ending on September 30, 2023, Aristocrat Leisure Limited, a global gaming colossus, disclosed a net profit after tax of AU$1.3 billion (US$846 million), representing a 21% growth. The expansion is a result of the company’s prosperous operations in the North American market as well as its strong overall gaming sales.

Annual revenue increased by 13% to AU$6.3 billion (US$4.1 billion), while EBITDA increased by 13.8% to AU$2.11 billion (US$1.37 billion). Additionally, the EBITDA margin increased marginally to 33.4%. Strong performance in fiscal year 2023 is attributable to Aristocrat’s improved product portfolio, ongoing investments, and consistent execution, notwithstanding dynamic conditions in significant sectors.

The gaming industry emerged as a noteworthy performer, as evidenced by its annual revenue growth of 22.2% to AU$3.64 billion (US$2.37 billion). Revenue in the Australia and New Zealand (ANZ) region decreased marginally to AU$458.4 million (equivalent to US$298 million).

In March 2022, the revenue of the social gaming company Pixel Utd decreased by 4.3% to AU$1.75 billion (US$1.14 billion) due to the withdrawal of Aristocrat from the Russian market and the general downturn in the mobile games industry.

Principal contributors to the success of Aristocrat, according to CEO and Managing Director Trevor Croker, are the firm’s resiliency, competitiveness, and portfolio diversity. Croker underscored the strategic endeavors of Aristocrat to expand and diversify, while concurrently emphasizing the criticality of their gaming business strategy.

Over the subsequent years, Croker placed significant emphasis on the organization’s determination to surmount obstacles and capitalize on strategic opportunities. The expected acquisition of NeoGames in the first half of 2024, which is a component of their online Real Money Gaming (RMG) strategy, is one such opportunity.

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Original story by: IAG