Australia’s Slot Machine Maker Aristocrat Reports Loss

Aristocrat Leisure Ltd., the world’s second-largest maker of slot machines, turned to a first-half loss amid stalling demand from casinos and write-downs to stakes in gambling companies Elektroncek and PokerTek Inc.

Aristocrat had a net loss of A$33.4 million (US$28 million), or 7 cents a share, in the six months ended June from net income of A$70.4 million, or 15.2 cents, a year earlier, the Sydney-based company said in a statement Monday. Sales fell 5.3 percent to A$442 million.

U.S. casinos are delaying orders and Australian customers are sticking with existing machines amid a drop in gambling demand. Chief Executive Officer Jamie Odell, in the role since February, on Monday said Aristocrat would focus on its three largest markets of Australia, North America and Japan after completing a six-month review of the business.

“More of our management team will be based in North America, reflecting our determination to become more genuinely embedded in the region,” Odell said in the statement. “We expect to exit around 30 low-margin jurisdictions over the coming months. One size no longer fits all.”

Originally posted 2009-08-26 09:59:20. Republished by Blog Post Promoter

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