Asia round-up: Aristocrat Q3; HHR Philippines & operators defend Australian gambling ads
Aristocrat Leisure has reported revenue of AU$5.6bn (US$3.79bn) for the 12 months ended 30 September 2022, an 18% year-on-year increase in reported terms.
The supplier reported a net cash position of AU$564m and liquidity of AU$3.8bn on 30 September 2022, while EBITDA was AU$1.85bn, a 20% increase from the prior-year period.
An Aristocrat statement read: “Strong operating cash flows and superior financial fundamentals were maintained, ensuring the business retains full strategic optionality and the ability to fund both organic investment and inorganic acceleration options.”
Aristocrat CEO and Managing Director Trevor Croker commented: “Aristocrat’s performance underlines the ongoing implementation of our growth strategy. Throughout the year, we continued to invest in competitive product portfolios to drive further share growth across key segments, greater operational diversification and deeper business capability.
“Aristocrat delivered an increase in revenue of almost 18% year-on-year and an annual profit of AU$1.1bn, which exceeded our 2019 financial year performance by approximately 23%. This highlights the strength of our post-Covid recovery and our ability to execute in a challenging environment.”
The third quarter also saw Aristocrat continue to invest in the online real money gaming business by launching Anaxi.
This helped the company achieve a 27% growth in normalised net profit after tax amortisation (NPATA) to AU$1.1bn, achieved after maintaining organic and inorganic investment for future growth.
“Therefore, we recognise the need to continue to develop proactive, practical solutions that will reduce exposure of minors and those suffering or at risk of harm”
Sportsbet, Official Statement
HHR Philippines reaches an agreement with React Gaming for cloud software
React Gaming subsidiary Loot.bet will have its cloud-based software onboarded with HHR Philippines (HHRPh) after a master services agreement was signed.
Per the deal, Loot.bet’s cloud-based software is set to be operational in the Southeast Asian country by 1 April 2023.
React Gaming CEO Leigh Hughes said: “This is major news for React Gaming, as it allows us to tap into the very lucrative and low capital intensive B2B market for the first time.
“The Philippines has always been a key target for us due to the size of the market and its interest in esports. Needless to say, Loot.bet remains very popular within the esports and iGaming community, and entering this market with a large known licensed partner such as HHRPh just made complete sense.
“We believe that this new B2B business model will allow us to expand our Loot.bet platform faster and more efficiently, with minimal investment and lower risk, and could represent a win-win solution for both React Gaming and online gaming operators across the globe.”
Ladbrokes and Sportsbet defend Australian advertising presence amid inquiry
In Australia, an inquiry examining whether laws do enough to protect children from being exposed to gambling ads has led operators Ladbrokes and Sportsbet to come out in defence of their ads.
The respective sportsbooks highlighted their efforts to promote responsible gambling tools when writing to the parliamentary inquiry.
Sportsbet said there is significant community interest in its advertising, reaffirming its commitment to ensuring its advertising approach “is sustainable and in line with community expectations.”
The operator continued: “Therefore, we recognise the need to continue to develop proactive, practical solutions that will reduce exposure of minors and those suffering or at risk of harm.”
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