Aristocrat Gains AU$2.25 Billion in the Face of COVID-19

Australian online casino content developer Aristocrat Gaming has announced a 7% increase in its operating revenue of up to AUD2.25B (USD1.47B) for its first half of the fiscal year. Regardless of a 7.7%% EBITDA decrease to AUD707.6M, the company has recorded a net profit of AUD1.31B, which is a massive 277% rise from the previous financial year.

As of 31 March, Aristocrat had AUD1.8B of liquidity available on a pro forma basis. Its operating cash flow increased by 42% to AUD620m. The company, however, recorded a 6% decrease in land-based revenue, owing to the ongoing COVID-19 crisis.

On the other hand, Aristocrat’s Class II installed base grew by 2%, whereas its Class III installed base grew by 9%. The company also recorded a 14.3% decrease in EPS (earnings per share) to 47.9 cents per share with no interim dividends compare to the same H1 for the previous fiscal year.

Trevor Croker, the CEO and managing director of Aristocrat, said that the impressive H1 results were as a result of their hard work and diversification of revenue streams. He added that the increased revenues showed their dedicated work in producing top tier products despite the current coronavirus pandemic.

Earlier this week, Aristocrat announced that it had priced a USD500M Term Loan B that is set to mature in October 2024, a loan that the company secured to cushion its balance sheet against the impact of the ongoing pandemic.

All in all, the latest numbers indicate that Aristocrat’s online business continued to develop steadily while its land-based revenue streams are taking a hit from the COVID-19 crisis.

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