Aristocrat Leisure has completed the sale of its Plarium Global business following a comprehensive review of its social gaming division.
Aristocrat agreed to sell Plarium to Sweden’s Modern Times Group in November 2024 for US$620 million, with the proceeds from the now completed transaction being deployed throughout the business in accordance with the company’s long-term growth strategy and capital management structure.
Aristocrat has also decided to restructure its Big Fish Games business in order to maximise value for shareholders, with the business now focusing solely on the operation of its evergreen titles, with no new games being produced as Aristocrat scales back its investment in the business.
Trevor Croker, CEO and managing director of Aristocrat Leisure, said: “With the completion of the strategic review of our casual and mid-core gaming assets, Aristocrat is well placed to accelerate our refreshed growth strategy. We are deepening management focus and targeting investment behind our core strengths in regulated gaming and gaming-themed content to unlock new and adjacent opportunities across global markets.
“The outcomes of the review reflect Aristocrat’s ongoing focus on driving shareholder value, with the benefit of clear choices and a commitment to growth.”
Aristocrat also announced that following the strategic review, Pixel United will be replaced in its reporting segment by Product Madness, with chief strategy officer Superna Kalle assuming executive leadership responsibility for Product Madness, in addition to her current responsibilities.
Shares in Aristocrat Leisure Ltd. (ASX:ALL) gained 2.44 per cent to close at AU$76.49 per share in Sydney Thursday.