Aristocrat set to launch real-money gaming arm for the iGaming space

Aristocrat Leisure announced the creation of a new business segment focusing on Real Money Gaming (RMG). Mitchell Bowen, who was the CEO of Aristocrat's land-based gaming division, will lead it.

Trevor Croker, Group CEO and Managing director of the company, revealed details of the plan during last Thursday's Annual General Meeting. This was following the failure to acquire Playtech plc, a UK-based platform provider.

Bowen's Aristocrat Gaming section will continue alongside the RMG segment. Hector Fernandez, the former President of Aristocrat’s Business in the Americas, will now oversee Aristocrat Gaming. Pixel United will continue working on social gaming.

Croker stated that despite the failure of the Playtech acquisition, Aristocrat had been investing in its online RMG capabilities for the past year. Using these foundations, Croker will accelerate a "build-and-buy" approach to scaling online RMG.

Croker stated during the meeting, "This will see us invest strongly in building out our own online RMG platform infrastructure while also undertaking select M&A, partnerships and talent acquisitions to accelerate progress wherever appropriate. To bring the right level of focus and momentum to the task, we are establishing a third global operating business within Aristocrat.

It will take a long-term effort to achieve a scaled position online in RMG, as well as a sustained investment over many years. However, Croker emphasized that Aristocrat's track record proves that it can scale businesses successfully. "Mitchell's leadership, aligned with shareholders' interests, will use a similar mix of inorganic and organic investment and financial and operational rigor," he added.

Croker stated that Bowen was already consolidating his reputation as an industry executive with global standing upon his appointment to the new segment. His strategic and operational impact can be seen in the exceptional momentum of the Aristocrat Gaming business, its recovery after COVID-19, and an unwavering customer focus.

Croker added that Mitchell will be supported in his work by a dedicatedleadership team, which will include key external and internal appointments to quickly increase the company's capabilities in relevant areas.

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