Daily Asia Gaming eBrief: Aristocrat fiscal 1H24 profit tops $484 million

Thursday 16th of May 2024

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Good Morning. Some giants just continue to grow. Such was the case for Aristocrat in the first fiscal half of the year, with the company reporting profit of over $484 million, including a doubling of both profit and revenue in its Asian operations. Meanwhile, gaming revenue in the Philippines surged during the first quarter, hitting a new record high, boosted by eGames. And in India, experts are urging regulators to not be heavy handed in their approach to gaming, but that a strong framework is required to ensure taxes are collected adequately.

What you need to know

Aristocrat registers 1H24 fiscal profit of $484 million, with Asia revenue and profit doubling yearly and strong results from all segments.
Philippines gaming revenue surges in 1Q24, hitting new record high, supported by strong performance in eGames.
A ‘light-touch’ regulatory environment and support should be put in place to allow India to emerge as a ‘global gaming innovation hub’.

On the radar

Newport World Resorts with double-digit drops in VIP GGR, fall in income.
Galaxy Entertainment: 1Q24 GGR soar 59 percent to $1.23 billion.
Lower VIP and mass table revenue reduce Bloomberry Resorts 1Q24 results.
Belle completes tender offer, Premium Leisure set for July 9th delisting.
Sportradar’s strong 1Q24 revenue causes FY24 forecast upgrade to $1.15B.
IGT ups FY24 result expectations after 1Q24 revenue reaches nearly $1.07B.
160 Chinese involved in offshore gaming deported from the Philippines.
Melco’s House of Dancing Water revamp to be under Our Legacy Creations.

AGB Intelligence

RESULTS

Aristocrat profit hits $484M in fiscal 1H24

Aristocrat continued to justify its position as a global gaming giant, reporting fiscal first-half results topping $484 million. The group notes that its Asian operations were very healthy, doubling in both profit and revenue. The group's Gaming arm continued to lead contributions, boosted by strong sales and the launch of recent releases, such as Dragon Link.

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