Aristocrat reports 17% rise in net profit to $484 million for first half of 2024

Global gaming giant Aristocrat announced a 16.8% increase in net profit after tax, reaching AU$723.3 million ($484 million), for the six months ending March 31, 2024.

The company attributed this growth to strong performance in the North American slots market and the expansion of its iGaming division.

Revenue for the period increased by 6.1% year-on-year to AU$3.27 billion ($2.19 billion). EBITDA rose by 17.6% to AU$1.20 billion ($804 million), with the EBITDA margin improving by 3.6 points to 36.6%.

“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,” Trevor Croker, Aristocrat’s Chief Executive Officer and Managing Director, said. 

"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."

North America Gaming Operations revenue grew by 5.8% to $950.2 million while revenue from the rest of the world grew by 6.6% to AU$376.7 million ($252 million), with notable game performance and recovery in the sale of replacement units in Asia.

Meanwhile, Aristocrat Interactive's revenue surged by 48.6% year-on-year to $71.9 million, while the social gaming arm, Pixel United, experienced a 1.8% decline in revenue to $875 million.

“Following the completion of the NeoGames acquisition in April 2024, we have consolidated the Anaxi and NeoGames businesses into a single, consistent brand identity, Aristocrat Interactive. We believe that rebranding to Aristocrat Interactive will benefit our customer and regulator conversations, galvanise our teams and drive closer collaboration with Aristocrat Gaming," added Croker.

“Looking ahead, we will continue to focus on portfolio performance and capturing the significant strategic opportunities in front of us, including integrating NeoGames and positioning Aristocrat Interactive to achieve its full potential in this next chapter of Aristocrat’s growth."