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Aristocrat sees a staggering 19% growth in digital revenue

Posted: May 22, 2020 10:48 Category: Posted by Maria Debrincat

Concurrently the Group’s land-based revenue decreased by 6% during lockdown

Australian publicly listed company Aristocrat Leisure  on Thursday announced the financial results for the six months ending March 31. The land-based business was hit very hard with the lockdown and last month Aristocrat laid off approximately 1,000 of its roughly 4,000 staff members. 

 

CEO and Managing Director Trevor Croker stated that the company will continue to focus on what we can control and do all we can to protect the health and wellbeing of employees.

 

The Group’s land-based revenues decreased by 6 percent on year-to-year basis but 19 percent growth in digital revenues resulted in an overall increase of 7 percent to A$2.25 billion (US$1.5 billion). 

Aristocrat’s digital business makes up 40 per cent of its revenues and has performed strongly during lockdown, with higher revenues and player engagement.  

The company’s digital games include the fantasy role-playing game Raid: Shadow Legends as well as digital casino games.

Aristocrat Chief Executive Officer and Managing Director Trevor Croker stated, “Particularly in this uncertain period, we will continue to focus on what we can control and do all we can to protect the health and wellbeing of employees, customers, and suppliers… Our strong balance sheet, ample liquidity and excellent financial fundamentals position us to emerge from this period strongly, while allowing us full optionality to continue to invest for long- term growth.” 

To strengthen its balance sheet Aristocrat also announced a 500million dollar loan a few days ago. 

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