Sydney-based gaming machine manufacturers is edging so close t5o attaining high profits with Australian Securities Exchange saying that total earnings for the gaming company that centers its business in the casino industry reaching over 53%.
Aristocrat Chief Executive Officer, who was recently minted Trevor Croker has confirmed that there is indeed a profit upsurge that has existed for the past six years.
Trevor says that during that time, the casino industry in Australia and other international l markets have seen a substantive growth, so there is no need to lag behind.
A meeting that was held recently revealed the earnings when the gaming giant was releasing its half-year report, which ended on March 31.
According to the report, Aristocrat Leisure made huge profits than previous years. For six months, which started nearly the end of 2016 and ended at the end of the first quarter of 2017, Aristocrat made a profit of $187.4 million.
The data said that the amount translates to a more than 53% increase from the profit the gaming giant garnered during the same financial period of 2015/2016.
Although the company got the profit, which is equivalent to over 53% increase from the previous year, the new CEO did not want to take credit. Granted, Trevor was made CEO in March, during the time the company was releasing the financial analysis for the half-year.
He is, however, an employee of Aristocrat Leisure who was elevated to the Chief Executive Officer position after serving in the company for a long time.
When releasing the six-month financial report, Croker gave credit to the entire Aristocrat staff that have helped the company make such huge steps that have seen it make the substantive profit over the past year.
“All credit to the excellent work should go to the employees of Aristocrat Leisure. Nothing much would achieve if one many did something however good. It all goes back to the employees who did a quick designing work that can be evidenced by individual casinos who are our clients,” Croker told AFR.
Apart from the 53% profit increment the company got in its six-month period, it also gained regarding shares. On Thursday, the company’s shares grew to as little as 4% to hit $15.7.
Although based in Australia, Aristocrat Leisure is an international brand that deals with gaming machines manufacturing. The company is virtually on every continent with a majority of its offices, 6 of them, based in U.S. alone.
Some of the company’s gaming products are slot machines, video games platforms, technological and progressive formats, most of which gear towards enticing the millennials as well as latest sophisticated yet elaborate video slots.
Now that the company realizes huge profits, Croker said that they are going to turn their attention to new markets that for a long time have not been tapped by other gaming manufacturers.