Aristocrat’s chief executive officer, Trevor Croker, has addressed the company’s recent performance, expressing optimism in its ability to digitalize its traditional casino games.

In his address during the annual general meeting, Croker commented on Aristocrat’s FY results, praising the company’s growth. He pointed out that FY23 saw the company deliver revenue of $6.3 billion and an EBITDA margin of 33.4%.

Net profit before amortization stood at $1.3 billion, representing a profit improvement of 21%. The iGaming segment skyrocketed, reporting revenue and profit growth of 22% and 23% respectively. International Class III products, on the other hand, posted revenue growth of a whopping 87%, underpinned by strong performance in EMEA and Asia.

The company’s NA presence increased, placing Aristocrat’s growth well ahead of that of its competitors.

We once again generated robust operating cash flow, which was applied to fund our growth initiatives, including capital investments in our installed base in North America and the strategic acquisition of Roxor Gaming.

Trevor Croker, CEO & MD, Aristocrat

The Roxor acquisition closed in January 2023, allowing Aristocrat to grow its European iGaming footprint. Following that, Aristocrat also moved in to acquire NeoGames in a deal that it is yet to complete.

The Largest Growth Opportunity Lies in the RMG Sector

As for the future, Croker is optimistic about Aristocrat’s business in North America. The company recently forayed into Quebec’s VLT market. The company is also set to launch VLTs in Georgia in 2024.                                               

The company also plans to continue its investments in D&D as it seeks to differentiate itself from its rivals. Croker cited the recent launch of NFL-themed electronic gaming machines as a perfect example of this.

However, the largest growth opportunity lies in the RMG sector, Croker believes. He said that the performance of its first releases quickly proved that Aristocrat’s land-based casino games would resonate online.

We will take our successful gaming portfolio online through a multi-year roll out plan, ensuring a steady stream of new game launches, both in North America and in Europe, where our acquisition of Roxor has established a foothold from which we can further expand penetration of our leading content.

Trevor Croker, CEO & MD, Aristocrat

In the meantime, Aristocrat reaffirmed its commitment to sustainability and ESG, saying that they are a fundamental expression of the company’s values. Croker added that his team is genuinely concerned about the dangers of excessive gambling and will continue to involve itself in responsible gaming initiatives.

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DraftKings CEO, Jason Robins, has expressed confidence in the company’s position in the online gaming market, stating that the recent launch of ESPN Bet does not pose a threat to DraftKings’ trajectory. 

DraftKings CEO Jason Robins Stresses Product Excellence

Speaking at the 3rd Annual Craig-Hallum Online Gaming Conference, Robins acknowledged the competitive landscape but emphasized DraftKings’ focus on maintaining a strong product and staying true to its playbook.

Despite the significant impact of ESPN Bet’s launch, with over a million downloads in the first six days, Robins remains optimistic about DraftKings’ market standing. He highlighted the company’s history of facing waves of competition and its ability to navigate through them successfully. Robins mentioned that ESPN Bet seems to be playing for the long term rather than making a short-lived splash, and he welcomed the potential for market growth brought by new players and innovations.

Robins stressed the importance of having the best product, citing it as a key factor in DraftKings’ ability to outperform in the market. He believes that a superior product leads to organic benefits in terms of customer acquisition and lifetime value. The CEO expressed confidence in DraftKings’ playbook, emphasizing that sticking to it will yield positive results regardless of competitive challenges.

Robins Unveils DraftKings’ Next Moves with Progressive Parlays, iGaming Success, and More

Looking ahead, DraftKings is set to launch progressive parlays in the coming weeks, offering sports bettors a chance to win consolation prizes even if all legs of their parlays do not hit. Robins sees this as a differentiated product that will meet customer demand.

On the iGaming front, Robins considers it a hidden gem for DraftKings, noting the company’s success in gaining market share, especially in the face of initial doubts about reaching close to 30%. He expressed enthusiasm about the untapped potential of iGaming, highlighting the company’s bullish stance and significant investments in the product.

Robins also briefly touched on the potential for international expansion and new product verticals in the longer term. While acknowledging these opportunities, he emphasized the current focus on the existing market and the upside within the United States, emphasizing the benefit of maintaining a singular focus:

“I think, we would be executing well anyway, but I have to say it is at least in part due to the fact that we are really focused on one geography and on winning there. And I think if you look at some of our competitors, they are not so or they are focused on other lines of business.”

In other recent news, DraftKings launched Pick6, a new peer-to-peer fantasy sports game available in six US states, including Maryland, Minnesota, Oklahoma, South Carolina, Tennessee, and Wisconsin.

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DraftKings has unveiled a brand new commercial featuring two of its brand ambassadors. The new commercial will also feature the American operator’s brand-new tagline, “The crown is yours.”

Preceding the new National Football League season by a few weeks, the new commercial will feature the retired NFL quarterback Ryan Fitzpatrick, as well as the comedian Kevin Hart. The celebrities will leverage their ambassadorial roles to promote DraftKings’ brand ahead of the NFL action.

The upcoming commercial is set to launch on Monday, August 21. It will promote one of the operator’s tempting promotional deals and welcome offers that provide players with hundreds of dollars in free bets.

The new tagline, meanwhile, is meant to highlight DraftKings’ titular royal theme while promoting the company as an operator willing to elevate its players. The tagline will be deployed across DraftKings’ channels and social media accounts.

Like Fitz-Magic

The new commercial will feature the two ambassadors benefiting from a DraftKings offer that provides players with $200 in free bets after placing a $5 bet. In the commercial, Hart says that the operator is spoiling him while Fitzpatrick would call the promotional deal “Fitz-magic.”

DraftKings’ chief marketing officer, Stephanie Sherman, addressed the launch of the new commercial and her company’s vision. She said that the DraftKings team really resonated with Hart’s lighthearted and witty humor. Because of his qualities as a comedian, Hart was the perfect person to bring DraftKings’ exciting promotions to life.

Sherman added that the new commercial reflects the company’s desire to innovate while continuing to engage fans. This is further reflected in DraftKings’ customer-centric approach and new tagline that suggests the operators’ players are the true kings.

DraftKings Continues to Defy Expectations

Earlier this month, the American operator published its Q2 2023 results. This was notably the company’s first profitable quarter since its listing on the Nasdaq stock exchange.

In addition, DraftKings’ favorable performance helped it defy the skeptics who believed the company’s performance would continue to decline.

While the company’s resilience will continue to be tested in the third and fourth quarters of the year, DraftKings remains fairly optimistic about its business. The operator is certain that its operations in Kentucky and Puerto Rico will be major contributors to its business that will help it excel in Q4.

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