During Thursday’s Annual General Meeting, Australia-based Aristocrat Leisure Group CEO and Managing Director Trevor Croker announced the company’s entry into online Real Money Gaming (RMG), to be led by current Aristocrat Gaming CEO Mitchell Bowen.
According to an ASX announcement, he said Aristocrat has been investing in building online RMG capabilities in-house over the past year. “Leveraging these foundations, and our growing global systems and technology capabilities, we will be 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,” Croker explained.
Group CEO Trevor Croker
He added that a third global operating business will be established within Aristocrat, running alongside Aristocrat Gaming and Pixel United within our structure, and will be led by Mitchell Bowen, who has served as CEO of the Aristocrat Gaming business over the last three years. “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. Mitchell will be supported by a
dedicated leadership team that will include a number of key internal and external
appointments, to rapidly bolster our capabilities in relevant areas.”
Mitchell Bowen
“We have clear advantages in our powerful product portfolio, strong customer and regulator relationships, full financial optionality and strategic rigour. We are excited to be wasting no time in implementing our plans, and initiating investment in the current business. We will provide more detail on our strategy and key priorities at our half year results in May,” Croker anticipated.
Bowen will be replaced by Hector Fernandez in his role of CEO of Aristocrat Gaming. Fernandez joined Aristocrat over three years ago as CFO of the Americas Gaming business, before taking on the President role in mid-2019. This leadership transition is already underway, and will be supported by additional internal appointments and promotions.
The announcement comes after Aristocrat‘s proposed 2.1 billion pound ($2.84 billion) buyout offer for Playtech was rejected earlier this month. Aristocrat needed approval from 75% of Playtech shareholders, but less than 55% of votes were cast in favour of the deal.
