Key points:
- NPATA rose 6% to AU$733m, with EBITDA climbing 13% to AU$1.25bn
- Gaming operations added ~2,500 net units in North America, while Product Madness outperformed market benchmarks
- $533m returned to shareholders through dividends and share buybacks during the period
Aristocrat Leisure delivered a 9% year-on-year increase in group revenue to AU$3.3bn ($2.1bn) for the first half of FY25, supported by market share gains in North American Gaming and strong performance from its Social Casino and Interactive divisions.
EBITDA rose 13% to AU$1.25bn, expanding the EBITDA margin to 41.1% from 39.7%. Net profit after tax and before amortisation (NPATA) climbed 6% to AU$733m, while reported profit remained flat at AU$664.9m.
Aristocrat Gaming reported a 4% profit increase in North America, underpinned by the addition of ~2,500 Class III Premium and Class II units.
The installed base exceeded 73,600 units, contributing to a 130 basis point improvement in regional margin to 58.1%. However, Outright Sales revenue fell 5%, attributed to timing delays in new cabinet releases such as the Baron Portrait.
Outside North America, gaming revenue declined 9%, with profit down 20% and ANZ margins narrowing by 550 basis points to 42.1%. Aristocrat cited lower average selling prices and subdued unit sales ahead of second-half product launches.
Product madness and interactive segments drive diversified growth
Product Madness outpaced the Social Slots market with a 2% increase in bookings to US$570m and a margin improvement of 310 basis points to 42.9%.
Social Casino revenue rose 4%, compared to a 6% decline in the broader market, bolstered by operational efficiency and increased direct-to-consumer sales, now accounting for 13% of segment revenue.
Aristocrat Interactive, benefitting from the full-period inclusion of NeoGames, contributed growth through expanded iLottery and content distribution.
In the US, the NPI joint venture drove strong iLottery gains, with notable activity in North Carolina and Virginia. Content launches through more than 150 operators across 175 jurisdictions further reinforced global scale.
Capital management and outlook
Aristocrat returned AU$533m to shareholders through dividends and on-market buybacks during the period, concluding its AU$1.85bn repurchase plan and initiating a new AU$750m program set to run through February 2026.
The group’s net debt stood at AU$425m as of 31 March 2025, with total liquidity of AU$2.2bn and a conservative leverage ratio of 0.2x.
The company declared an interim dividend of 44 cents per share, up 22% from the prior period, payable on 1 July 2025. Investment in design and development remained strong, representing 13.3% of revenue.
Looking ahead, Aristocrat expects second-half momentum to accelerate, driven by product rollouts and improved operating conditions. The company reaffirmed guidance for full-year NPATA growth and reiterated its FY29 target of US$1bn in Interactive revenue.
Past performance
Aristocrat previously reported a 17.2% rise in FY24 NPATA to AU$1.56bn, supported by strong performance in North American Gaming. FY24 revenue totalled AU$6.60bn, while EBITDA rose 18.5% to AU$2.47bn.
Last year also marked Aristocrat’s exit from Plarium and a reallocation of investment toward its core businesses, including expanded digital content and a strategic push in regulated online markets.
