Even with the current market **volatility**, Aristocrat is confident about **expansion** in 2023.
Aristocrat Leisure CEO Trevor Croker **reconfirmed** that the company anticipates **seeing** year-over-year **progress** in 2023, despite the ongoing **economic instability**. At the group’s annual shareholder gathering earlier today (February 24), Croker stated that Aristocrat had a **positive** start to the 2023 fiscal year, with the gaming sector performing particularly well in North America.
Aristocrat anticipates **continued growth** in 2023, despite **uncertainties** in the market. Croker mentioned that from a macroeconomic perspective, Aristocrat will continue to **carefully monitor** the potential impact of **high inflation** and interest rates on consumer **attitudes**, as well as the **development** of supply chains. However, he stated that the company is prepared to **collaborate** with its clients and suppliers to **navigate** these uncertainties.
“The group’s performance this fiscal year is **encouraging** and in line with our plans to date,” said Croker. “The gaming business is off to a good start, particularly in North America, where capital investment from our key customers remains **supportive**.”
Discussing specific areas of the business, Croker said the Pixel United mobile social gaming division has shown **resilience** in the first few weeks of 2023, despite the mobile market as a whole facing **difficulties** in the second half of 2022.
Although the baseline effect influences annual growth comparisons, the overall mobile gaming industry continues to solidify, and there are no indications of further decline.
Anaxi has bolstered its real-money gaming operations, recently acquiring Roxor Gaming, ahead of schedule. Croker indicated that Roxor’s remote gaming servers and content delivery technology will expedite Anaxi’s expansion strategy in the online gaming market.
Roxor presently operates in the UK and New Jersey, USA, and intends to launch in Ontario, Canada, before the end of the first quarter.
Last week, Aristocrat also extended its content agreement with BetMGM, and Croker stated that the company anticipates announcing more agreements soon and reaching similar deals with other enterprises this year.
Furthermore, Anaxi will introduce its inaugural mobile native solution for tribal gaming operators, which will go live in the Chickasaw Nation in Oklahoma during the first quarter.
Based on these advancements and last year’s progress, Croker declared that Aristocrat can reaffirm its forecast of achieving year-over-year growth in NPATA (net profit after tax, adjusted to exclude amortization of intangible assets and significant non-operating items not included in cash taxes) in 2023.
He indicated that this demonstrates Aristocrat Gaming’s sustained robust revenue and earnings expansion, Pixel United’s decelerating reservations and earnings growth, and further capital allocation to Anaxi to bolster its online real-money gaming enterprise.
“In general, fiscal year 2022 was another prosperous year for Aristocrat, emphasizing the advantages of our ongoing expansion strategy,” Croke stated. “Concentrating on the elements we can manage, our strategy is founded on enhancing our own operations and competitiveness – regardless of the external obstacles we confront.”
In the meantime, Aristocrat disclosed that only one of the resolutions presented at its shareholder gathering was turned down. The proposition to appoint Stephen Mayne as a non-board-approved executive was rejected.
Nevertheless, the proposals to re-elect Philippe Etienne, Pat Ramsey and Kathleen Conlon as directors were approved, as was the proposal to elect Bill Lance as a director.
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