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Revenue: Increased 11% to $6.3 billion, 8% in constant currency. NPATA: Grew 12% to $1.6 billion. EPSA: Increased 15% to $2.47. EBITDA: 16% higher than the previous corresponding period (PCP). Dividend: Full year dividend of $0.93 per share, up 19% over FY24. Gaming Operations Installed Base: Increased by 6% over the prior year. Social Casino Bookings: Increased 5% despite a market decline of 9%. Direct-to-Consumer Revenue: Represented 16% of social casino revenues, up from 7% in the prior year. Interactive Revenue Growth: 7% increase on a pro forma basis. Market Share Gains: North American outright sales ship share around 31%. Cash Flow: Strong cash flow generation with $1.4 billion returned to shareholders through buybacks and dividends. Investment in D&D: $800 million, representing 12.7% of revenue. Share Buyback Program: $1.85 billion completed, with a new $750 million program announced.

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Release Date: November 11, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

Aristocrat Leisure Ltd (ARLUF) achieved double-digit growth across all key metrics, with group revenues increasing by 11% and segment profit growing by 12%. The company successfully divested Plarium and Big Fish Games, focusing its mobile operations purely on social casino, which is expected to enhance future growth. Aristocrat Gaming delivered strong performance with significant share gains in North America and ANZ, recovering to over 50% ship share. Product Madness showed impressive performance with continued share gains, profit, and margin growth, driven by focused investment in user acquisition and high-performing content. The company maintained a strong balance sheet, returning $1.4 billion to shareholders through share buybacks and dividends while continuing to invest in growth opportunities.

Negative Points

Legal costs increased by $33 million compared to FY24, primarily due to ongoing litigation against Light & Wonder. Interest income decreased by $34 million due to lower average cash balances following the NeoGames acquisition and continued share buybacks. The effective tax rate increased to 28% from 27% in the previous year, reflecting changes in regional earnings mix and acquisition-related transitional changes. The company faces challenges in the Interactive segment, with a need for significant investment to fully realize its potential and achieve its USD1 billion revenue target by FY29. Despite strong performance, the company anticipates that NPATA growth will be phased towards the second half of FY26, indicating potential short-term challenges.

Story Continues

Q & A Highlights

Q: Can you provide insights into the North American gaming operations market and your expectations for the next 12 months? A: Trevor Croker, CEO, explained that Aristocrat drove the majority of market growth in North America, with market share for the top five increasing to 42.3%. He expects the market size to remain stable, with new openings and expansions similar to the previous year. Aristocrat aims to add between 4,000 and 5,000 units in 2026, leveraging new games and maintaining fee per day growth.

Q: How did Product Madness achieve revenue growth in a declining market, and what are your future expectations? A: Trevor Croker highlighted that Product Madness focused on social casino, leveraging land-based content and effective live operations. The business took market share despite a contracting market, with social casino bookings increasing by 5%. The team aims to continue growing direct-to-consumer revenue and expanding market share in social casino.

Q: What are your priorities for incremental investment in D&D, and how do you plan to manage costs? A: Sally Denby, CFO, stated that Aristocrat is in an investment cycle, focusing on scaling the Interactive business and investing in technology to efficiently distribute content across channels. The company is managing D&D costs on a portfolio basis, targeting mid-single-digit growth in investment.

Q: Can you discuss the role of MONOPOLY in your gaming operations and its expected impact in the next year? A: Trevor Croker noted that MONOPOLY Big Board Bucks will be launched in the new calendar year, with positive feedback from operators. The game is expected to replace existing MONOPOLY installations and be incremental to Aristocrat's installed base, contributing to growth in 2026.

Q: How is Aristocrat utilizing AI in its operations, particularly in D&D, and what impact does it have on growth expectations? A: Trevor Croker explained that AI is being used in various areas, including art generation, live operations, quality testing, and game porting. While AI improves efficiency, it does not replace creativity. The company expects mid-single-digit growth in D&D investment, with AI contributing to operational efficiency.

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

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