Aristocrat Plans Further Growth, Confirms Extension of Share Buy-Back Program

The company confirmed Friday it extends its on-market share buy-back program. This program is part of Aristocrat’s ongoing capital management strategy. It confirmed that since June 2022, the company has bought back some AU$478 million ($324.4 million). However, the buy-back program will now be extended for an additional period.

A statement released by Aristocrat on February 24, 2023, confirms that the company’s Board has greenlighted an increase of the on-market share buy-back program to include an additional AU$500 million ($339.4 million). Besides extending the buy-back program amount, Aristocrat confirmed it extends the period during which the shares can be bought back to another 12 months until the end of May 2024.

Additionally, the company explained that the share buy-back program “will continue to be conducted on an opportunistic basis and Aristocrat reserves the right to vary, suspend or terminate the on-market share buy-back program at any time.”

Trevor Croker, Aristocrat’s chief executive officer, commented in a statement explaining that the buy-back program which launched in May 2022 is near its completion. Now, considering that the company continues to see strong cash flow, he outlined, it can explore further opportunities for growth and investments.

“With the A$500 million on-market share buy-back program previously announced in May 2022 nearing completion, and our consistently strong cash flow generation, we are able to continue to pursue a mix of returns to shareholders via dividends and share buy-backs while also investing in strategic acquisitions and organic growth initiatives.“

Trevor Croker, chief executive officer at Aristocrat

The Company Confirms Plans for Further Growth

Besides the extension of the on-market share buy-back program, Aristocrat shared its outlook for 2023. Croker acknowledged that the company has seen strong performance for the year until September 30, 2022. According to him, in 2022, the company continued to invest in technology, products, and innovations and implemented different efficiencies. Moreover, speaking about the 2022 financial year, Croker said it was “another successful one for Aristocrat, highlighting the benefit of the consistent implementation of our growth strategy.”

Focusing on FY23, he predicted that the company will continue to see strong growth from its Aristocrat Gaming operations. At the same time, the CEO predicted Aristocrat Gaming will continue to hold a leadership position in market share. Finally, Croker said that Aristocrat plans to continue to invest and support its real money gaming ambitions via Anaxi.