Aristocrat Eyes UAE and APAC as Land-Based Share Run Continues

Aristocrat Leisure has told investors it expects to gain further land-based EGM market share across key casino jurisdictions, despite low single-digit growth forecasts for the wider land-based gaming market through 2030. The company used its Investor Briefing on Wednesday to point to North America, Asia, ANZ and the UAE as markets where game performance and new openings could support further gains.

The briefing followed a five-year period in which Aristocrat said it increased North American Gaming Operations share by 38%, North American outright sales ship share by 27% and ANZ ship share by 48%.

Superna Kalle, Aristocrat’s Chief Strategy and Content Officer, said the company sees “substantial runway to continue to gain share” in its largest markets. She identified North America, which represents more than half of the market, referenced Europe, and said Aristocrat has “a strong position, compelling products and see even more growth ahead” across ANZ and Asia.

Kalle said land-based gaming is projected to grow at low single digits through 2030, but added that Aristocrat does not feel constrained by that market rate. She pointed to North America as the main example and said Aristocrat has outpaced the market since 2019, with gaming operations and outright sales that grew at 9% and 10%, respectively.

“We expect superior performance of our games to continue to drive share as customers optimize their EGM footprint, and we focus on areas where we are underpenetrated,” Kalle said. “We also see additional growth in new gaming markets such as the UAE.”

Floor Performance Drives the Strategy

Trevor Croker, Aristocrat CEO and Managing Director, said the company’s land-based business is well placed for 2H26 and 2027. He said Aristocrat still sees room for gains across both gaming operations and outright sales.

According to Croker, Aristocrat’s share of top-performing leased and core games is higher than its share of the EGM footprint. That creates headroom if operators continue to reshape floors around game performance.

Croker pointed to ANZ as the clearest recent example. Aristocrat recovered market share from 30% to 49% in Q1 2026 after it responded to competitive pressure with renewed investment in content, hardware, customer engagement and commercial execution.

He said the company expects that momentum to continue, with new titles to be shown at AGE, such as Phoenix Link, which is set to launch soon in New South Wales.

Croker also pointed to new market openings and casino expansions. He said Aristocrat tends to receive a greater floor allocation in new openings than on existing floors because operators use current performance data when they build or expand casino floors.

“With several key expansions expected through FY27 across the UAE, EMEA and Asia and the usual expansion in the North American market, we see strong share gain potential,” Croker said.

Aristocrat recently reported revenue of AU$3.03bn, or US$2.19bn, for the six months to 31 March 2026. EBITDA grew 6.2% year-on-year to AU$1.18bn, or US$854m.

💡TGJ Take

Aristocrat’s message is aimed as much at casino operators as investors: floor allocation should follow game performance. That is a hard argument for smaller EGM suppliers to fight if Aristocrat’s top-performing leased and core games continue to outrun its footprint share. The UAE and Asia matter because new openings give suppliers a cleaner shot at larger starting allocations than mature replacement cycles. For operators, the commercial question is not whether Aristocrat is already dominant, but how much more of the floor its performance data can justify.