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Casino closures during COVID-19 cut demand for gaming machines

Coronavirus 434 Earnings 496 Info Tech - Tech Hardware 622 U.S. 4649

Aristocrat Leisure reported a 17.7% year over year slide in FH2’20 revenues due to reduced demand for its gaming machines from casinos in Las Vegas and other gambling hubs in the wake of COVID-19. U.S. seaborne imports of the firm’s machines and parts dropped 72.3% year over year in Q3’20 with a further decline of 69.2% in October suggesting casinos are being cautious despite reopenings. The issue is industry-wide with total imports down by 38.8% in October after a 47.6% slide in Q3’20. Kortek dropped by 47.4% in October while Konami’s focus on arcade games meant it only experienced an 1...

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