Aristocrat now a major social gaming business

The Australian gambling supply company Aristocrat is now fourth largest in the world in the digital social gaming sector, according to a report by the Australian Associated Press news agency, commenting on the company’s remarkable international growth, with revenue two years ago tenth among its rivals, rising to fifth by September 2016.

This week the company confirmed its earlier corporate guidance that normalised profit growth of 20 to 30 percent for the full year to September 30 will be achieved.

Addressing the Aristocrat agm this week, outgoing CEO Jamie Odell said that the company’s digital social gaming business includes the Heart of Vegas suite of games, and Cashman Casino which was launched in December 2016.

He revealed that Heart of Vegas was the third-highest grossing social casino app, with revenue growing by 82 percent and profits by 127 percent.

Last November Odell caused some consternation among shareholders when he announced his intention to step down in February 2017 after successfully helming the group since 2009 (see previous report).

Odell said that the group’s performance in the first four months of the current fiscal year has been strong, and that regulatory approval has been achieved for his replacement, Trevor Croker, to assume chief executive responsibilities starting March 1 2017.

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