Australian gaming giant Aristocrat Leisure Ltd said Wednesday it has completed an AU$1.85 billion (US$1.15 billion) share buyback program a month earlier than scheduled.
In an ASX filing, the company confirmed that the program had been due to expire on 28 February 2025 but was completed early following a series of transactions in recent months.
“Aristocrat remains committed to its long-term growth strategy and established capital management framework, including returning cash to shareholders through on-market share buy-backs and dividends wherever appropriate,” it said.
Completion of the current buyback program comes as Goldman Sachs this week upgraded Aristocrat stock to “BUY”, citing its strong position in the US market where disposable income is projected to grow through 2025, therefore supporting casino expenditure.
The company’s successful defense of its intellectual property in a legal case against rival Light & Wonder’s Dragon Train series, plus growth in its social casino arm Pixel United, are also seen as positives going forward.
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