Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi everyone, Thanks for all your hard work in keeping us informed with the market. My query is in relation to Aristocrat. It appears to be going down and down on a daily basis. Is it likely to be bottoming out soon or is it time to cut and run? Thanks .. David
Hi David,
ALL is a quality business that’s largely falling away in sympathy with rival Light & Wonder (LNW) and US casino and gaming stocks. When compared to its peers its doing ok:
We have discussed LNW in another question today with its weakness largely attributable to its delisting on the NASDAQ. However, this months announcement that ALL has reached an agreement to acquire live slot streaming provider Awager from funds managed by Oaktree Capital Management, subject to regulatory pre-approvals, for an undisclosed amount, may have unsettled some fund managers as it introduced a layer of uncertainty into the equation.
On the surface we like the move which aligns with Aristocrat’s strategy to deepen its presence in digital and real-money gaming, adding live streaming technology and an established U.S. iGaming distribution network to its portfolio.
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