16/05/2024 16:25

Aristocrat (ALL) $45.75

ALL +12.3%: 1H results today for the gaming business were stronger than expected with shares surging on the back of the beat coupled with a risk on session from the broader market. Revenue was slightly ahead of consensus, however, earnings (EBITDA) of $1.2b was ~10% ahead of the market driven by lower corporate costs. The underlying business segments broadly performed as expected but from a geographic standpoint, US was softer, offset by strength from the Rest of the World.

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14/05/2024 09:15

Aristocrat Leisure Ltd (ALL) $39.47

Gaming giant Aristocrat continued to gain market share during the last quarter, but overall industry sales volumes have fallen, the market's first negative quarter since COVID-19. Rival IGT’s management expects 2024 to "slow down", which has not helped sector sentiment or its share price, which has tumbled ~40% in less than 12-months.  While we believe ALL will continue to perform strongly compared to its peers, a tough market backdrop is likely to weigh on its share price; it has already slipped over 15% from its 2024 high.

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01/03/2024 09:33

Aristocrat Leisure Ltd (ALL) $46.63

Poker machine giant ALL has already advanced +14% in 2024, helped by its positive correlation to the Tech Sector. Following its report last November, this gaming company doesn’t confess its sins until May, but the markets are clearly voting with both feet that the news will be good. Their FY23 results were solid, with revenue up 13% to $6.3b and Segment EBITA up 4% to $2,750m, at the time both slightly ahead of expectations.

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18/01/2024 09:25

Aristocrat Leisure Ltd (ALL) $41.20

Gaming company ALL is closely correlated to the Tech Sector, and in sync with yesterday's moves on the stock/sector level, it caught our attention, closing up +1.8% in a weak market. We see further upside for ALL, illustrating that not all ships rise/fall with the same tide.

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15/11/2023 16:53

Aristocrat Leisure (ALL) $39.48

ALL -0.95%: FY23 results on first look were in line or better than expected, however, Aristocrat’s shares gave up early gains today as the market got into the nitty gritty of results for the gaming company. Revenue was up 13% to $6.3b and Segment EBITA up 4% to $2,750m were both slightly ahead of consensus.

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12/10/2023 09:14

Aristocrat Leisure Ltd (ALL) $40.88

ALL has continued to grind higher through 2023, offering investors few decent opportunities to buy into dips. We like the company's direction after expanding its buyback by $500mn, $US1.2bn acquisition of NeoGames, and launch of new NFL slot machines in Las Vegas last week.

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07/09/2023 09:08

Aristocrat Leisure Ltd (ALL) $41.25

Gaming business ALL is not a favourite of ethical funds but has rallied solidly through 2023, retracing over 50% of its 2021/22 decline. Earlier in the year the company expanded its buyback by $500mn and proposed the $US1.2bn acquisition of NeoGames which received overwhelming shareholder backing in July.

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27/06/2023 09:24

Aristocrat Leisure Ltd (ALL) $37.86

ALL is one stock MM sold too early after we took an overweight stance towards tech in Q4 of 2022 although its advance has been fairly tepid compared to the likes of XRO mentioned previously. Last month ALL proposed the acquisition of NeoGames while expanding its buyback by $500m.

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18/05/2023 16:42

Aristocrat Leisure (ALL) $38.04

ALL -3.06%: first half result for the gaming technology business today was largely in line, however weakness in the mobile segment weighed on shares today. Revenue was slightly ahead of expectations, up 125 to $3,080m, Segmental EBITDA (Pre-corporate and FX costs) was up 8% to $1,305m, and in line with expectations.

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30/03/2023 09:27

Aristocrat Leisure (ALL) $37.03

ALL develops and manufactures slot machines globally which are now sold and operated in more than 90 countries. The business has a strong presence in the key North American market while It also provides systems to around 300 casinos.

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