Aristocrat Leisure reported revenue of AU$3.03bn (US$2.19bn) for the six months to 31 March 2026, down 0.2% year-on-year on a reported basis but up 6.4% in constant currency, with net profit after tax climbing 8.4% to AU$794m (US$575m). The Australian gaming supplier announced the result on 13 May 2026 alongside a US$1bn expansion to its on-market share buyback programme and a 13.6% increase in the interim dividend to AU$0.50 per share, equivalent to a total payout of AU$301m. Shares closed 7.9% higher at AU$49.84.
Group EBITDA rose 6.2% to AU$1.18bn (US$854m), with the margin expanding 220 basis points to 36.9%. Reported continuing operations net profit jumped 56.3% to AU$511m, reflecting the absence of one-off items that weighed on the prior-year comparative.
Gaming carries the result
Aristocrat Gaming, the land-based slot machine business, was the principal driver of the group result. Segment revenue grew 4.9% to AU$1.96bn (US$1.42bn), with segment profit up 3.0% to AU$1.06bn (US$767m). The company attributed the performance to outright sales growth and market share gains in North America and ANZ, alongside continued installed base expansion in Gaming Operations.
Aristocrat said its gaming operations pipeline remained robust, citing early performance from premium titles including MONOPOLY Big Board Bucks, Spooky Link Grand, and Lightning 10 Year Storm, while Buffalo Mega Stampede continued to lead the existing installed base. Net unit growth in gaming operations for the full year is targeted at the upper end of the company’s 4,000 to 5,000 unit range.
CEO Trevor Croker referenced market share gains in his accompanying statement.
Aristocrat delivered a strong first half, with clear progress across the business and market share gains in key segments.
Product Madness shrinks after divestments
Product Madness, the social casino division, recorded revenue of AU$546.2m (US$395m), a 4.1% decline year-on-year. The figure reflects the divestiture of Big Fish Games earlier in the period, with the underlying social slots business reporting a 4.7% revenue increase offset by a decline in social casual revenue.
Excluding the divested social casual operations, segment profit margin improved one percentage point to 47%. The company cited continued revenue growth and lower platform-related costs from higher direct-to-consumer sales, partially offset by increased user acquisition spending to support what it described as above-market growth.
Interactive grows, profit drops
Aristocrat Interactive, the regulated online real-money gaming arm built on the NeoGames acquisition, posted revenue growth of 6.5% to AU$230.3m (US$167m). Segment profit fell 10.6% to AU$64.34m (US$46.6m). The company pointed to investment in newly acquired businesses and the planned exit from its white label business as the main drivers of the profit decline.
The division has been restructured over the past 12 months, with new leadership appointments announced in September 2025, followed by the AWager acquisition in October 2025 to expand its online footprint. Revenue growth in the half was driven by iLottery and content scaling, primarily in North America.
The interactive segment’s iLottery business, anchored by the NeoGames Studio platform, secured a contract extension during the period. Aristocrat Interactive renewed its multi-year agreement with Santa Casa da Misericórdia de Lisboa, Portugal’s national lottery operator, for an additional three years on 7 May 2026. The renewal preserves SCML access to the existing NeoGames Studio eInstant Games portfolio and future releases.
Balance sheet and buyback
Aristocrat reported net debt of AU$949m at 31 March, equivalent to 0.3 times consolidated EBITDA, with available liquidity of AU$1.4bn. The company refinanced its debt facilities on 22 April 2026.
The expanded share buyback brings additional capacity for shareholder returns and follows a similar capital-return posture from other B2B suppliers reporting flat headline revenue this cycle. Evolution reported flat FY2025 revenue with EBITDA down 9% in February, though Aristocrat’s land-based weighting has insulated it from the European regulatory pressure that drove Evolution’s earnings decline.
Management is targeting AU$100m in cost savings during fiscal 2027 through operating leverage and AI deployment across the business.
Outlook
The company expects NPATA growth for the full year to 30 September 2026 on a constant currency basis, supported by continued market share growth in gaming and net unit additions to gaming operations at the upper end of its 4,000 to 5,000 target range. Aristocrat reiterated its FY29 target of US$1bn in Interactive segment revenue, with iLottery and content scaling in North America and Europe identified as the primary growth vectors.
Source: Aristocrat Leisure Limited
