An investment analyst at JP Morgan has named Australia’s Aristocrat Leisure Ltd. as one of the suppliers that stands to come out of the current COVID-19 crisis the strongest.
The note predicts that Aristocrat will emerge from the crisis with a larger land-based footprint, and in position to acquire weaker rivals. The note cites Aristocrat’s strong performance in online operations in Australia and Italy.
The note predicted a decline of nearly 25 percent in earnings this year due to lower sales and revenue from gaming operations, but that earnings will jump back in 2021 with a 38.5 percent increase in EBITDA, citing average digital play time that has increased 134 percent in Italy and 74 percent in Australia.
