Australia’s Aristocrat Leisure Ltd. has announced the creation of a new division dedicate to real-money online gaming, and a shuffling of top management in its gaming division, at the company’s annual general meeting.
Aristocrat, while operating a social/casual gaming division for years, has been alone among the top slot suppliers in delaying the creation of a digital division. Announcement of the new division’s creation follows the failure of Aristocrat’s bid to take over London-based iGaming giant Playtech, PLC.
The new Aristocrat iGaming division will join Aristocrat Gaming, which supplies slots to gaming floors, and Pixel United, the company’s social gaming division, in three units making up Aristocrat Leisure. Heading it will be Mitchell Bowen, who has been CEO of Aristocrat Gaming over the past three years.
Hector Fernandez, the company’s president, Americas for the past two years, will become the new CEO of Aristocrat Gaming.
At the annual meeting, Aristocrat Leisure Limited CEO Trevor Crocker said the new online division will take a “build and buy” approach to scaling the business, developing a proprietary platform and turning to M&A where necessary.
“Achieving a scaled position in online RMG (real-money gaming) will be a medium-term effort. It will take sustained investment over a number of years,” Crocker said. “However, our record shows that Aristocrat knows how to successfully scale businesses.”
“As CEO of the Aristocrat Gaming business over the last three years, Mitchell has cemented his reputation as an industry executive of global standing,” Aristocrat Leisure CEO Trevor Crocker said of Bowen at the meeting. “His strategic and operational impact is evident in the outstanding momentum of the gaming business and its recovery post-Covid, with excellent staff engagement and an unwavering customer focus.”
Of Hernandez, Crocker said, “Throughout his time at Aristocrat, Hector has championed fresh thinking and high performance and worked with a talented team to solidify our Americas business as the market pace-setter, and the supplier of choice. A seamless leadership transition is well under way, and will be supported by additional internal appointments and promotions that further underline the depth of talent we’re delighted to have at Aristocrat.”
Crocker said more details on the new iGaming division will be revealed in May, on its half-year earnings call.
