Aristocrat Leisure Ltd is launching a new business segment that focuses on Real Money Gaming (RMG), and will be led by the former CEO of the company’s land-based gaming unit, Mitchell Bowen.
The plans were revealed by Group CEO and Managing Director Trevor Croker at the company’s Annual General Meeting on Thursday following its recently failed attempt to purchase UK-based casino software giant Playtech plc.
The new RMG unit will sit alongside Bowen’s old Aristocrat Gaming segment – which will now be headed by former President of Aristocrat’s business in the Americas, Hector Fernandez – and Pixel United, which includes social gaming.
According to Croker, Aristocrat has been investing in building its in-house online RMG capabilities over the past year and, leveraging these foundations and will now accelerating a “build and buy” approach to scaling in online RMG.
“This will see us invest strongly in building out our own online RMG platform infrastructure while also undertaking select M&A, partnerships and talent acquisitions to accelerate progress wherever appropriate.
To bring the right level of focus and momentum to the task, we are establishing a third global operating business within Aristocrat.”
“Achieving a scaled position in online RMG will be a medium-term effort. It will take sustained investment over a number of years. However, our record shows that Aristocrat knows how to successfully scale businesses.
We will apply a similar mix of effective organic and inorganic investment, and financial and operational rigour to this task, under Mitchell’s leadership and aligned to shareholders’ interests.”
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