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Australia – Pandemic wipes off half of Aristocrat’s profit despite digital growth

By - 18 November 2020

The pandemic wiped 46.7 per cent off Aristocrat’s profit for the year ended September 30 2020, taking it down to AU$476.6m (US$348m).

Group revenue decreased 5.9 per cent to $4.1bn, reflecting a 32 per cent decrease in Aristocrat Gaming (Land-based) revenue, driven by the impact of COVID-19 customer venue closures and social distancing restrictions; largely offset by 29 per cent growth in Aristocrat Digital revenue, in local currency.

Aristocrat’s Class III premium and Class II installed bases grew 5.9 per cent and 0.3 per cent respectively, with continued penetration of leading hardware configurations and highperforming game titles. Aristocrat Digital delivered double-digit growth in bookings, revenue and profit with Shadow Legends continuing its impressive growth trajectory – generating US$368m in bookings.

Aristocrat Chief Executive Officer and Managing Director, Trevor Croker, said “The resilience and commitment of Aristocrat’s global team of over 6,000 people has been impressive, particularly over the last ten months. I want to thank all of our people for the care they have shown for each other, their focus on our customers and players, and their absolute determination to deliver despite the challenging circumstances. Their safety and wellbeing – and the safety and wellbeing of our customers, suppliers and other stakeholders – remains Aristocrat’s first priority.

“In May, we said that Aristocrat entered the COVID-19 challenge in good shape. Six months on, and notwithstanding the uncertainties that remain, we believe we’re well placed to emerge from this period in even better shape. Our results for the full year to 30 September 2020 demonstrate that we have enhanced our financial fundamentals and further accelerated our underlying operational momentum, despite the exceptional challenges and volatility generated by COVID-19 on our business, customers, players and people across the majority of the period,” he added.

“Aristocrat continued to take share and maintained its leadership of key Gaming markets and segments over the full year, with an increased focus on customer service and engagement. Continued investment in new hardware and games delivered superior operational performance and supported resilient demand.

“Aristocrat Digital delivered exceptional operational performance, while continuing to diversify and strengthen its portfolio and pipeline of new games. Aggressive and dynamic investment in User Acquisition supported momentum and allowed the business to fully leverage COVID-19 related tailwinds, while taking further significant strides forward in organisational scale, capability and effectiveness.

“A strong balance sheet, ample liquidity and robust cash flows provide us with full optionality to continue to invest behind our refined growth strategy and take advantage of acceleration opportunities in the period ahead” Mr Croker concluded.

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