Aristocrat Leisure Weathers COVID-19 Storm with Strong Online Performance
Australian gaming powerhouse, Aristocrat Leisure, experienced a notable decline in its financial results for the fiscal year concluding September 30, 2020. Earnings after taxes and excluding non-recurring expenses tumbled by 47% to AU$476.6 million (roughly US$348.8 million), a direct consequence of the worldwide COVID-19 crisis.
Despite the difficult environment, the firm still generated AU$4.14 billion in overall income. Although this signifies a 6% reduction compared to the prior year, it underscores their adaptability amidst widespread shutdowns of casinos and gaming establishments. Their online division emerged as a bright spot, accounting for a substantial 57% of total income. The Americas persisted as a crucial market, comprising 33% of overall revenue.
Aristocrat recognized the severe effects of the pandemic on their brick-and-mortar operations, especially from March onward as lockdowns and physical distancing protocols were implemented. Nevertheless, they maintain a positive outlook on the future, referencing their “capacity to sustain a long-term path of superior, enduring expansion.” This assurance is supported by their solid financial position, including ample cash flow, minimal debt, and a strong balance sheet. As of September 30, 2020, Aristocrat held operating permits across 328 jurisdictions in 84 nations and employed over 6,000 individuals globally, with a significant number situated in the United States.
