- Australian gambling giant Aristocrat Leisure (ALL) extends its on-market share buyback program
- Since June 2022, the company has bought back $478 million worth of shares, and it’s now aiming for an additional $500 million through the extension
- The buyback program will now span until the end of May 2024
- Aristocrat says the buyback is being carried out on an “opportunistic basis” and holds the right to vary, suspend or terminate the program at any time
- Shares in ALL are up 2.06 per cent to $36.63 at 11:36 am AEDT
Australian gambling giant Aristocrat (ALL) has extended its on-market share buyback program.
The company has bought back $478 million worth of shares since June 2022 and is now aiming to buy back a further $500 million of shares.
This will take place over an added 12-month period ending May 2024.
Aristocrat CEO Trevor Croker said the company was in a strong position to continue rewarding its shareholders.
“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,” Mr Croker said.
The gambling giant confirmed the buyback would be carried out on an “opportunistic basis”, and it held the right to vary, suspend or terminate the program at any time.
Aristocrat reported revenues of more than $5.5 billion for the 12-month period to September 30 2022, representing an 18 per cent year-on-year increase in reported terms and a 12 per cent increase on a constant currency basis.
The company said it was largely due to the growth of its Gaming Americas business and “above-industry performance across key gaming segments and mobile genres”.
Shares in ALL were up 2.06 per cent to $36.63 at 11:36 am AEDT.