Ann: 2023 Half Year Media Release, page-20

Fires burning for gambling behemoth

Poker machine giant Aristocrat has “new growth opportunities” galore, according to the Wilsons analysts.

“With the recent acquisition of NeoGames SA (NASDAQ: NGMS) for $1.8 billion, Aristocrat signalled its intent to move into the online real money gaming (RMG) market,” said Crookston.

“Consensus for online RMG is effectively zero, providing another avenue for earnings upgrades in the next 12 months.”

His team thinks this grossly underestimates the potential of RMG, especially through its Anaxi brand.

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Aristocrat Leisure PriceJul '22Sep '22Nov '22Jan '23Mar '23May '23Jul '22Oct '22Jan '23Apr '23303234363840Zoom1M3M6MYTD1Y5Y10YALLJun 27, 2022→Jun 23, 2023www.********.au

Crookston cited how Aristocrat previously expanded its Pixel United mobile gaming business.

“Aristocrat managed to grow the revenues of Pixel United from nothing to $2.4 billion in a comparable global market,” he said.

“Therefore, if Aristocrat successfully executes its plans for Anaxi in line with our expectations, we anticipate significant earnings upgrades in the coming years.”

The Aristocrat share price has gained more than 24% year to date