Australian gambling technology supplier Aristocrat has reported a strong performance in its full year results for the period ending September 30.
Citing the overall strength of its full portfolio, the firm were also quick highlight a trio of reasons that it attributed in particular to the positive outcome.
Aristocrat was quick to highlight its ‘outstanding’ momentum in the Americas, sustained stability throughout the Australian market and significant growth in the Digital and International CIII segments.
In its full year results the ASX listed firm has recorded a new record revenue figure, with a rise of 15.3% from a little over $2.1bn to $2.45bn, in addition to an earnings before interest, tax and depreciation and amortisation (EBITDA) rise from $806m to just over $1bn, representing a 24% increase.
The company, with operations in 291 licensed jurisdictions, also reported a huge increase in net profit to £495.1m, a 41.3% increase from the $350.5m figure shown for the year ending September 2016.
Trevor Croker, Aristocrat Chief Executive Officer and Managing Director, said “Aristocrat delivered high quality results over the 2017 fiscal year, against a backdrop of mostly flat markets and increasing competitive pressure.
“Industry leading content, hardware and technology, coupled with effective execution focused on our highest value opportunities once again underpinned our performance.
“Further growth in our core recurring revenue segments of gaming operations and digital social casino was particularly pleasing, with 52% of Group revenues deriving from recurring sources during the year as well as growth in outright sales over the period.
“This represents further progress in ensuring Aristocrat delivers sustainable returns and cash flow over time, consistent with our strategy and shareholders’ interests.
“During the reporting period, Aristocrat invested behind our core business while also making progress in unlocking attractive growth opportunities in adjacent markets and segments.
Going forward, Aristocrat will continue to target high quality growth, with the benefit of our established performance momentum, broadening capabilities, strong balance sheet and growing recurring revenue base.”
On the same day as its FY2017 results were announced, Aristocrat has also revealed the $990m acquisition of Big Fish Games, becoming the second biggest social games operator as a result.
This expansion from Churchill Downs, who themselves only purchased big fish for $850m three years ago, follows the $500m acquisition of Plarium Gold in August of this year.
Mr Croker added: “The strategic and financial benefits from the acquisition are highly compelling.
“The acquisition of Big Fish will immediately provide scale across our entire Digital platform, following the recent acquisition of Plarium, which expanded our Digital business into the fast growing social gaming market.”