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Aristocrat profit up 17% to US$484 million in 1H24 as North America, Asia show strong slots growth

Ben Blaschke by Ben Blaschke
Thu 16 May 2024 at 06:56
Digital on the rise but land-based COVID struggle sees Aristocrat profit fall 12.8% in 1H20
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Global gaming giant Aristocrat has reported a 16.8% increase in net profit after tax to AU$723.3 million (US$484 million) in the six months to 31 March 2024, with the company citing strong growth in the North American slots market and scaling of its iGaming arm for a substantial rise in revenue.

Revenue for the period was up 6.1% year-on-year to AU$3.27 billion (US$2.19 billion), with EBITDA of AU$1.20 billion (US$804 million) representing a 17.6% increase. EBITDA margin was up 3.6pts to 36.6%.

In summarizing its 1H24 results, Aristocrat said it saw strong performance in North America Gaming Operations, where revenue grew by 5.8% to US$950.2 million reflecting expansion of the installed base and leading game portfolio performance.

Rest of the World revenue was up 6.6% to AU$376.7 million (US$252 million), driven by “strong game performance and a recovery in the sale of replacement units in Asia.”

Revenue at iGaming arm Aristocrat Interactive grew by 48.6% year-on-year to US$71.9 million, although social gaming arm Pixel United saw a 1.8% decline in revenue to US$875 million.

“This was once again an outstanding result, reflecting Aristocrat’s resilience and ability to grow share and drive profitability through different operating environments,” said Aristocrat’s Chief Executive Officer and Managing Director, Trevor Croker.

“The Group delivered strong revenue and EBITDA growth over the half. This was underpinned by record Aristocrat Gaming performance, led by an exceptional North America Gaming Operations result, and strong growth in Aristocrat Interactive, while Pixel United achieved improved profitability despite mixed market conditions. The result again highlights resilience and scale as fundamental strengths of our business, supported by an effective focus on operational efficiency and extracting operating leverage.

“Following completion of the NeoGames acquisition in April 2024, we have consolidated the Anaxi and NeoGames businesses into a single, consistent brand identity, Aristocrat Interactive. We believe that rebranding to Aristocrat Interactive will benefit our customer and regulator conversations, galvanise our teams and drive closer collaboration with Aristocrat Gaming, unlocking significant value over time.

“Looking ahead, we will continue to focus on portfolio performance and capturing the significant strategic opportunities in front of us, including integrating NeoGames and positioning Aristocrat Interactive to achieve its full potential in this next chapter of Aristocrat’s growth.”

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Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

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