Leading Pokie machine maker Aristocrat Leisure has announced the launch of its new online gambling arm, which is expected to go live by the end of 2022. This move by the company will gain it a vital foothold in the burgeoning online gambling industry.
The recent development coincides with Aristocrat’s $500 million on-market share buyback, where the company returned a portion of the $1.3 billion it raised in 2021 for its failed bid to acquire Playtech.
Aristocrat’s new “real money gaming” (RMG) business will produce iGaming software for casinos and other clients.
Group CEO Trevor Croker said that the product would launch via two US customers in two states by the end of 2022 and that a third launch is expected in early 2023.
“It’s going to allow our customers to provide our slots to their customers through an online application where they’ll be able to play our world-leading games on their websites,” he said.
Aristocrat’s pokies are currently available in physical cabinets and on smartphone platforms, allowing players to win real money on the go. The RMG division will be its third channel and its first significant foray into the fast-growing US iGaming market, where online gambling is currently legal in 6 states.
Croker added that Aristocrat’s primary concern in this new venture is delivering an online platform for its existing customer base. Still, he did not discount the possibility of the company introducing a direct-to-customer online gambling product offering.
“There’s people that play across all different verticals, whether it’s retail, whether it’s social and whether it’s real money,” he said. “What we’ve seen today in the markets that have established those three verticals already is that there is incremental opportunity,” he shared.
Croker also revealed that Aristocrat is eager to participate if Australia’s government decides to allow casino gambling.