Aristocrat Leisure Limited’s profits continue to outperform expectations as the company has wrapped up its FY21 to post a total of $628 million as its bottom line, up 81% year-over-year.
The Australian slot machine company’s performance has been bolstered by strong growth in the digital space backed by its operations in the Americas and finding a successful formula to adapt to the vicissitudes of the COVID-19 pandemic.
Aristocrat Sees Growth in Overall Revenue During FY21
Based on the information revealed by ASX earlier today, Aristocrat’s group revenue increased 14.4% year-over-year. That puts Aristocrat’s results at $3.44 billion, with the Americas delivering a $302 million profit increase. The ANZ region delivered another $51 million, and digital accounted for $87 million, mostly propped up by social casino operations.
Operating cash flow for the company increased to $966 million or up 30.4%. The company posted an adjusted EBITDA of $1.11 billion, up 43% year-over-year. Aristocrat is realizing a strong year as it prepares to enter in what could be a bidding war for Playtech. The latter accepted a $3.64 billion bid for its acquisition, but now, Gopher Investments has thrown its hat in the ring.
Aristocrat CEO and managing director Trevor Croker remained confident in the results and their significance for the company while commenting on the Playtech move. The decision to acquire the company, Croker said, reflected on Aristocrat’s “growing appetite” for mergers & acquisitions, which has been a modus operandi for many companies recently.
Aristocrat Set to Complete Playtech Acquisition, Keep Growth Momentum
Despite Gopher Investments’ rival bid, Croker is confident that Aristocrat may have all necessary approvals in the second quarter of 2022. Speaking about the overall company results, Croker simply explained:
“We continued to take share and deliver above-category organic growth over the year through sustained investment in outstanding product, people and capability, and further strengthening our business fundamentals.”Aristocrat CEO and managing director Trevor Croker
Croker praised the company’s ongoing efforts to diversify its product portfolio and build an offering that is prepared to take on new customers and deliver in new markets. Both the Aristocrat Gaming and Pixel United portfolios have experienced significant improvements, Croker explained.
From this point on, Aristocrat is entering fiscal 2022 on a high note, Croker continued. He expects to see the group improve its business resilience, continue gathering operational momentum, and invest in organic initiatives through the M&A sector, which will accelerate its growth.