By Annette Shailer
Aristocrat Leisure Limited announced last week (Aug 25) its half year results and a major worldwide transformation strategy to produce sustainable, long-term growth.
The three to five year transformation strategy aims to stabilise earnings after Aristocrat posted a net loss (post tax and abnormals) of $33.1m for the half-year ending June 30, 2009.
CEO, Jamie Odell, said they were disappointed with the results amid challenging global conditions.
“Operators continue to be cautious in terms of capital spending and new venue openings slowed markedly. However, we have maintained our pricing, cash flows and conservative debt levels while controlling costs,” he said.
“Our games pipeline for the second half is robust and we are confident in our ability to deliver high performing game content in all of our major markets, subject to regulatory approvals.”
The major transformation strategy follows a four-month worldwide review of operations.
“We will home in on the few game-changing opportunities that will make us successful. This means a resolute focus on our major markets of North America, Australia and Japan,” Odell said.
“We will increase investment in dedicated game content for the Australian market, and promote innovative licensing options along with a more customer focused sales model.”