Aristocrat bullish amid coronavirus panic
Top performing gambling regions around the world have been temporarily shuttered due to coronavirus.
Included are locations like Macau and Las Vegas Strip that experience loss of several hundreds of millions of dollars.
Some countries have already requested bailout measures like the USA and UK, LCB reports, but it is likely gambling operators will need additional support.
One of the top-rated producers of gaming equipment and Australia-based operator Aristocrat, has just expressed its readiness to face the consequences of coronavirus.
Aristocrat has just released a statement to alleviate concerns regarding the potential decrease in revenues and possible effect to its clients.
The report has been submitted to the Australian Securities Exchange, claiming the full recognition of expected declines which will be overcome through the well-though business model.
In a statement, the group said its fundamentals continue to underpin its strategy and long-term confidence.
“Aristocrat has a conservatively geared balance sheet, with a net EBITDA (earnings before interest, tax, depreciation and amortisation) ratio of 1.4x (as of September 30, 2019).
“In addition, Aristocrat’s term loan facility is not due until October 2024 and is covenant lite, providing significant financial flexibility.”
Aristocrat launches first in Vegas casino
Aristocrat Technologies announced in February the launch of the first ever Buffalo Bar located at Rampart Casino in Summerlin.
The newest evolution of the fan-favourite brand, Buffalo, offers an all-new experience for players that combines gaming and leisure for locals and visitors alike.
The Buffalo Bar will officially open on Saturday at 5pm.
“We’re excited to unveil the Buffalo Bar concept in partnership with Rampart Casino,” senior vice president of commercial strategy and data analytics for Aristocrat Jon Hanlin said.
“Buffalo has become a staple in the gaming community, and we’re excited to create an experience for players unlike any other.”
The space will feature a wide variety of Buffalo slot games including the all-new Winner’s World Multi-Game bar top, featuring Buffalo slots and Buffalo Keno, as well as player favourites including Buffalo, Buffalo Gold, Buffalo Gold Revolution, Buffalo Stampede, Buffalo Diamond and Buffalo Grand.
Located just off the casino floor, the Buffalo Bar will feature 1,095 square feet of gaming as well as offer nine bar seats with corresponding Aristocrat bar-top games.
Furthermore, the bar will feature the signature “Hairy Buffalo” cocktail.
“Our customers know and love the Buffalo brand, so to partner with Aristocrat and launch the first Buffalo Bar with all the different themed gaming options in one area is forward-thinking from the casino-side and very exciting for our players,” Michelle Bacigalupi, vice president and general manager at Rampart Casino said.
Aristocrat to over a bevy of new games amid digital growth spurt
Aristocrat Leisure has more than a dozen mobile video games in the works.
The Australian Financial Review reports 19 games are in the pipelines for the $20 billion gaming machine giant, which has stamped its authority in the digital sector after it drove the company to an after-tax profit of $752 million last financial year.
The result included a near $2 billion revenue injection – more than 40 per cent of the income reaped – from the digital segment.
Aristocrat chief executive Trevor Croker said this would continue to build.
The release of the financial figures on Wednesday triggered a surge in Aristocrat’s share prices, which traded up almost six per cent at $33.62 in afternoon trade on Wednesday.
“It’s a significant business in its own right. I’m confident in our ability to grow the digital business,” Mr Croker said.
The chief executive confirmed there are 19 games in the pipeline, after stating his satisfaction with the contribution of subsidiaries Big Fish and Plarium.
The pair of game developers entered Aristocrat’s stable early last year, meaning the 2019 financial year is the first full reporting period involving the subsidiaries.
“What we’ve been able to offer them is our capacity to grow and invest for growth in them for the longer term,” Mr Croker said.