• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Aristocrat incoming CEO pledges growth, renewal

Feb 27, 2017 Newsdesk Latest News, Top of the deck, World  


Aristocrat incoming CEO pledges growth, renewal

The chief executive-elect of slot machine maker Aristocrat Leisure Ltd promised investors growth and product renewal as he addressed its annual general meeting in Sydney, Australia, ahead of his official appointment on Wednesday.

The new CEO, Trevor Croker (pictured in a file photo), a long-serving executive with the firm, also told shareholders the group expected to record normalised net profit after tax – and before amortisation of acquired intangibles – up by between 20 percent and 30 percent year-on-year for the financial year ending September 30, 2017.

Mr Croker noted the business had delivered “strong performance” over the first four months of the financial year. He said it would build on the “outstanding momentum” achieved under the leadership of outgoing CEO Jamie Odell, who steps down on Tuesday after eight years in charge.

In comments reported on Sunday by the Australian Financial Review newspaper, Mr Odell described the Aristocrat he had inherited in 2009 as a “burning platform” as a result of the product “not competing very well,” and having lost its “innovating edge”.

Mr Odell arrived at Aristocrat with a non-gaming background, having been previously managing director for Australia and Asia Pacific at brewer Fosters Group Ltd.

His successor Mr Croker, served under Mr Odell for seven years as part of the Aristocrat group’s turnaround team.

On Monday, Mr Croker told shareholders the firm would not “sit still” under his leadership, but nor would it engage in “change for change’s sake”. He said he wanted to ensure maintenance of a “hungry and humble culture that takes nothing for granted”.

Net profit after tax at Aristocrat jumped 88 percent year-on-year in the 12 months to September 30, 2016, the firm had said in a filing to the Australian Securities Exchange in November. Performance in the ‘rest of the world’ market had been positively affected by “two major openings and market churn in Macau,” said Mr Odell in his Monday comments to shareholders.

New segments

The CEO-elect Mr Croker said that while protecting its core business in so-called Class III video slot machines for the pubs, clubs and casinos markets, Aristocrat would “aggressively pursue value-adding opportunities,” including via natural growth and mergers and acquisitions.

He said examples of growth opportunities included the segments for Class III so-called ‘stepper’ slot machines; as well as video lottery terminals and Class II video gaming machines, the latter a reference to products for the tribal gaming markets in North America. Aristocrat currently had “no presence” in each of these adjacent segments, said Mr Croker, but noted the firm had displayed such products at the Global Gaming Expo (G2E) casino industry trade show in Las Vegas, Nevada, in September.

In the Class III stepper segment, an initial portfolio of games had been approved and launched in the market in a small number of properties, said the CEO-elect. Aristocrat says its is also gaining ground in the Class II video gaming machine segment, after acquiring in 2014, U.S.-based Video Gaming Technologies Inc, a provider of gaming machines for the tribal gaming market in North America.

“Our increased capabilities and momentum gives us confidence to attack these [segments] with focus and vigour over the coming years,” the CEO-elect told shareholders on Monday.

Mr Croker is to be based in the United States, where the Australian group has many of its largest customers.

The firm has also been expanding in online and social games segments. It launched at the end of December a digital platform application called Cashman Casino. The group says it is designed to complement its Heart of Vegas app. The latter was first released for the social media platform Facebook in 2013.

Ian Blackburne, the group’s chairman, on Monday said Mr Odell had agreed to make himself available in an advisory capacity for 12 months during the CEO transition. A press release from the firm added that Mr Odell would be paid AUD250,000 (US$192,381) for the 12-month consultancy.


  • tweet
Related articles
  • Aristocrat 1H normalised profit up 41pct, announces dividend
    Aristocrat 1H normalised profit up...

    May 19, 2022  

  • Pragmatic Play to offer its slots via online platform bet365
    Pragmatic Play to offer its slots via...

    May 17, 2022  

More news
  • Macau gaming tax revenue US$1.3bln for Jan-Apr period
    Macau gaming tax revenue US$1.3bln for...

    May 19, 2022  

  • New Lim cruise biz only months after GEN HK in liquidation
    New Lim cruise biz only months after...

    May 18, 2022  


Latest News

Aristocrat 1H normalised profit up 41pct, announces dividend

Aristocrat 1H normalised profit up 41pct, announces dividend

May 19, 2022  

Slot machine maker and online gaming content provider Aristocrat Leisure Ltd reported interim normalised profit after tax and amortisation that rose 40.9 percent year-on-year, to AUD580.1 million...
Read More
Macau gaming tax revenue US$1.3bln for Jan-Apr period

Macau gaming tax revenue US$1.3bln for Jan-Apr period

May 19, 2022  

New Lim cruise biz only months after GEN HK in liquidation

New Lim cruise biz only months after GEN HK in liquidation

May 18, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


US$403.9 million

Interim normalised profit after tax and amortisation reported by slot machine maker and online gaming content provider Aristocrat Leisure



Most Popular

  • Wynn CEO, Macau execs in base pay cut in return for sharesWynn CEO, Macau execs in base pay cut in return for shares May 17, 2022
  • Macau repeat visitors denied visa by China says BernsteinMacau repeat visitors denied visa by China says Bernstein May 16, 2022
  • U.S. says Steve Wynn ‘foreign agent’, lobbied for ChinaU.S. says Steve Wynn ‘foreign agent’, lobbied for China May 18, 2022
  • Alleged bribe offer to ex-Wynn manager probed by HK, MacauAlleged bribe offer to ex-Wynn manager probed by HK, Macau May 17, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us