ARISTOCRAT LEISURE--FH24--good result, some changes mooted
Understandable business ALL started as a leader in poker machine (EGM) manufacture and sale. The development of software allowed the expansion into more creative products and services. The base of the core business is the design, manufacture, distribution and monitoring of games for worldwide casinos. The core business can be split into outright sales of machines and the more lucrative profit share and leasing of machines. ALL’s higher-yielding machines allowed ALL to participate in this development. The industry is highly regulated and the existing relationship with the casinos allowed ALL to venture into connected games and then onto online gaming. ALL entered Social casino through acquisition which has a similar skill base but the company also pursued broader gaming categories of role play, strategy and casual gaming. The latest acquisition has ALL entering the platform market where the company can deliver online games to many participants, both ALL and third-party gam...