Sydney, May 15, 2026, 05:03 AEST
- Aristocrat added A$1 billion to its on-market share buyback, taking the program to as much as A$2.5 billion.
- First-half normalised NPATA rose 8.4% to A$794 million, or 16.3% in constant currency.
- Shares closed at A$51.39 on May 14 after jumping 13.3% the day before.
Aristocrat Leisure Limited raised its on-market share buyback by A$1 billion after reporting higher first-half earnings, a capital-return push that helped spark a sharp rally in the Australian gaming supplier’s shares this week. The company said the enlarged buyback could reach A$2.5 billion in total and run through May 12, 2027.
The timing matters. Investors had been looking for proof that Aristocrat’s North American gaming-machine business and social casino titles could still throw off cash while the company spends on online real-money gaming and new technology. Aristocrat said it returned A$981 million to shareholders in the half through dividends and buybacks.
The stock closed at A$51.94 on Wednesday, up 13.3% from Tuesday’s A$45.85 close, before easing to A$51.39 on Thursday. The shares last traded before Friday’s open in Sydney, with ASX data shown as delayed by at least 15 minutes.
Aristocrat reported normalised net profit after tax and before amortisation of acquired intangibles, or NPATA, of A$794 million for the six months ended March 31, up 8.4% from a year earlier. NPATA is the company’s preferred profit measure; it strips out amortisation tied to acquisitions and certain significant items. Revenue was little changed in reported currency at A$3.03 billion, though it rose 6.4% on a constant-currency basis.
Chief Executive Trevor Croker said Aristocrat delivered a “strong first half” with “market share gains in key segments.” He also pointed to disciplined execution, better operating leverage and a more balanced use of capital between shareholder returns and investment.
The board lifted the interim dividend to 50 Australian cents a share from 44 cents a year earlier. The dividend is unfranked, with a record date of May 26 and payment due July 1.
Aristocrat Gaming remained the main engine. Revenue in the division rose 4.9% to A$1.96 billion, while profit rose 3% to A$1.06 billion. The company said North America and Australia helped drive outright sales — machines sold rather than leased — and that its North American gaming operations installed base reached more than 77,200 units.
Product Madness, its social casino arm, was more uneven. Social Casino revenue rose 4.7% to US$541.7 million, but total Product Madness revenue fell 4.1% to US$546.2 million after the sale of Social Casual assets early in the half. Direct-to-consumer sales, meaning sales made through Aristocrat’s own channels rather than third-party app platforms, rose to 24% of Social Casino revenue from 13% a year earlier.
Aristocrat Interactive, the online real-money gaming unit, showed the trade-off more clearly. Revenue including its share of NeoPollard Interactive joint-venture revenue rose 6.5% to US$230.3 million, but profit fell 10.6% to US$64.3 million as the company invested in newly acquired businesses and exited its White Label business, where technology is supplied under another brand.
There was also a competitive wrinkle. Aristocrat booked A$138.7 million in Light & Wonder litigation settlement proceeds before tax, with A$100.3 million after tax treated as a significant item. The settlement followed a January agreement under which Light & Wonder agreed to pay US$127.5 million over claims tied to its Dragon Train and Jewel of the Dragon games.
But the result was not clean across the board. Reported revenue was flat, Product Madness’ total revenue fell after the asset sale, and Interactive profit dropped. Currency also hurt: Aristocrat said a stronger Australian dollar against the U.S. dollar cut reported revenue by A$200 million and normalised NPATA by A$58 million in the half.
For the full year to Sept. 30, Aristocrat said it expects NPATA growth on a constant-currency basis. The company pointed to gaming operations net unit growth at the upper end of its 4,000-to-5,000 target range, more Product Madness market share growth, and progress toward a fiscal 2029 US$1 billion revenue target in Aristocrat Interactive.
