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.”
