Aristocrat Leisure has delivered a confident set of half-year results, reporting profit growth across its core business and rewarding shareholders with a higher interim dividend as the Australian gaming supplier continues to gain ground in key markets.
The company recorded net profit after tax and before amortisation of acquired intangibles of AUD794.0 million for the six months to March 31, 2026, up 8.4 percent year-on-year on a reported currency basis and 16.3 percent on a constant currency basis. The comparable figure a year earlier was AUD732.6 million. Group revenue came in at AUD3.03 billion, essentially flat in reported terms but up 6.4 percent when measured at constant currency a distinction that reflects the meaningful impact foreign exchange movements have had on how the results read on paper compared to how the underlying business is actually performing.
EBITDA from continuing operations reached AUD1.32 billion, up 5.6 percent on a reported basis and 13.1 percent in constant currency. EBITDA margin expanded by 2.4 percentage points to 43.5 percent, with more than 70 percent of revenue now coming from recurring sources — a figure that reflects the resilience of Aristocrat’s subscription and participation-based gaming model.
The board declared an interim unfranked dividend of AUD0.50 per share, up from AUD0.44 in the prior corresponding period, a 13.6 percent increase that amounts to a total payout of AUD301 million. The record date is May 26, with payment scheduled for July 1. Alongside the dividend, Aristocrat also announced a AUD1 billion increase to its on-market share buyback programme, lifting the total authorised amount to AUD2.5 billion and extending the programme through May 2027. Combined dividend and buyback activity returned AUD981 million to shareholders in the half, bringing the five-year total capital return to AUD5.1 billion.
The gaming segment remained the primary growth engine. Revenue from the division rose 4.9 percent to AUD1.96 billion, with segment profit up 3.0 percent to AUD1.06 billion. Particularly strong was the performance of the rest-of-world category, which covers casino slot machine sales in Asia-Pacific and recorded revenue of AUD403.7 million — an 18.3 percent increase year-on-year with EBITDA up 22.0 percent. The company shipped 2,799 gaming units to this segment during the period, compared to 2,964 units a year earlier, suggesting the revenue gain was driven by higher average selling prices and a favourable product mix rather than pure volume growth.
Interactive revenue came in at AUD262.0 million, down 0.6 percent on a reported basis but up 3.9 percent in constant currency. Product Madness, which houses Aristocrat’s social casino operations including the Raid franchise, recorded revenue of AUD805.6 million, down 10.6 percent in reported terms and 4.1 percent in constant currency — the one area of the portfolio where reported and underlying trends pointed in the same direction. The results also included AUD45 million in litigation settlement proceeds from its intellectual property dispute with Light and Wonder, taken above the line, which analysts at JP Morgan noted was worth flagging when assessing the underlying quality of the earnings.
On the leadership front, Aristocrat confirmed the nomination of Michael Rumbolz as a non-executive director, effective July 1, subject to regulatory approvals. Rumbolz brings more than 45 years of gaming industry experience, most recently as executive chairman of Everi Holdings, and also serves on the boards of Vici Properties and Seminole Hard Rock International.
Chief executive Trevor Croker framed the half as evidence of disciplined execution across the business, citing market share gains in key segments and the ongoing build-out of the leadership team with expertise in AI, iGaming and commercial management. Looking ahead, Aristocrat expects full-year NPATA growth on a constant currency basis, with gaming operations net unit growth now anticipated at the upper end of its 4,000 to 5,000 range.
