Aristocrat, an online gaming supplier, has recorded an improved performance during Q1 of the financial year – thanks to huge success in North America.
Aristocrat Reveals Improved Q1 Performance After Success In North American Markets
During the opening quarter, Aristocrat recorded an overall net profit of $510 million (after tax and before amortisation of acquired tangibles) – which is a 16% improvement on last year.
The company is based in Australia, however, its entrance into new American betting sites has played a huge role in its success – acquiring a revenue of $2.2bn (a 6% increase).
It also recorded an EBITDA of $801m, which is an 18% increase from the amount reported during the same period in 2023.
Trevor Croker, CEO and Managing Director at Aristocrat, labeled the company as ‘exceptional’ and linked large amounts of success to the operations in North America – primarily through online gambling sites.
He said (via Aristocrat): “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.”
Croker also confirmed that, Moti Malul, the former CEO at NeoGames, will be appointed as the next CEO at Aristocrat Interactive – highlighting a shift in the company’s objectives.
Aristocrat will keep directing its attention to the improvement of its portfolio and taking full advantage of what NeoGames has to offer, including chances to improve strategy within the company.
During the opening stages of this financial year, Aristocrat directed $828m back to shareholders via dividends and share buy-backs.
The company also revealed a huge increase in its share buy-back program, rising by £350m and this is set to end in February 2025.