Acquisition of VGT central to Aristocrat’s 2015 performance, says chairman

The highly successful acquisition and integration of the VGT gaming business was central to Aristocrat’s performance for the financial year ended Sept. 30, 2015, according to chairman  Dr. Ian Blackburne.

During the Annual General Meeting, Blackburne said the acquisition of VGT was successful in lifting operating cash flow and recurring revenue at the group level, and has improved Aristocrat’s leverage ratio from 3.6 at the time of acquisition to 2.6 times at the end of the fiscal year on Sep. 30, 2015.

Aristocrat CEO and managing director Jamie Odell said the VGT business delivered a 12.5 percent increase in revenue to A$274.6 million (US$197.8 million) compared to the same period in 2014. EBITDA grew 18 percent to A$190.2 million.

“In every respect, from strategic fit to operational impact and cultural alignment, the VGT acquisition is delivering fully against our expectations, and the Board is delighted with the progress and momentum achieved to date.” said Blackburne.

Aristocrat entered into an agreement to acquire VGT in July 2014, paying US$1.28 billion for the North American gaming provider.