Aristocrat set to launch online RMG in the US by end of 2022
Australian supplier targets three states by early 2023 as it brushes off failed Playtech takeover
Aristocrat is set to shake off the disappointment of its unsuccessful acquisition of Playtech by launching its own online real-money gaming (RMG) platform in the US.
Announcing its H1 2022 results, the Australian slots manufacturing giant reaffirmed its commitments to move into the RMG online market, specifically target two US jurisdictions by the end of the year.
The supplier also noted it expected to launch in a third state by early 2023.
Igaming is currently legal in New Jersey, Delaware, Pennsylvania, West Virginia, Michigan and Connecticut.
Further states are expected to legalise online casino in the future following the rollout of regulated sports betting to more than 30 states since PASPA’s repeal in 2018.
Aristocrat CEO Trevor Croker said the company was “accelerating” its roadmap to become a major online platform.
He said: “We are accelerating the implementation of our ‘build and buy’ strategy to scale in online real money gaming, which provides further channels for us to distribute our world leading content.
“Our ambition is to be the leading gaming platform in the global online RMG industry, and we anticipate being live with igaming products in two jurisdictions in the US by the end of calendar year 2022,” he added.
Aristocrat confirmed its intention to expanded into online gaming at its annual general meeting in February, which will see the company launch a third operational arm alongside its existing Aristocrat Gaming and Pixel United branches.
The ASX-listed firm had hoped to move into the world of online with a proposed acquisition of London-listed supplier and B2C operator Playtech.
The long-protracted negotiations saw Aristocrat agree a £2.7bn all-cash deal to acquire Playtech in October 2021.
However, the deal was scuppered by a Playtech shareholder revolt led by Tom Hall and TT Bond Partners.
Following that, Playtech CEO Mor Weizer was reported to have been eyeing a takeover of the company, in partnership with TT Bond Partners and Hall.
Elsewhere, Aristocrat posted a 23.1% rise in operating revenue in H1 2022 to A$2.7bn (£1.5bn) up from A$2.2bn in H1 2021.
EBITDA increased 30% to A$970.3m with a corresponding margin of 35.3%.
Post-tax profit also increased, rising 48.1% from A$346.5m in H1 2021 to A$513m in H1 2022.