Aristocrat Gaming and PokerStars Record Massive Revenue Growth in First Half of 2023

Jessica Aletor Author Pic
By:
Jessica Aletor
13/07/2023/
News
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Highlights

  • Aristocrat Gaming has emerged one of the first companies with operations in Michigan to announce its half year profit.
  • The company which launched its activities in Michigan in February 2023 has recorded a 17.2% revenue growth in the first six months.
  • Similarly, PokerStars is seeing a rise of 14% in its profits since it introduced interstate poker in Michigan, compared to previous years.

Michigan online casinos have seen a big boost in the first few months of the year, and many brands in that sector have been helped by the overall growth of the industry. One of such brands is Aristocrat Gaming and its subsidiary, Anaxi. The company first made its entry into Michigan in February 2023 when it was issued a supplier license by the Michigan Gaming Control Board.

Soon after, Aristocrat agreed a partnership deal with BetMGM Casino MI and had its games hosted on the casino’s platforms. Subsequently. Aristocrat would enter deals with FanDuel, Caesars and Barstool Casino.

Partnerships With Michigan Casinos Contributes to Aristocrat’s 17% Growth in North America

As part of its 2023 Half Year Profit Announcement, Aristocrat revealed that it saw a total profit growth of 27.3% across its global operations. For North America, the profit was up by 17.2%. This is unsurprising as Aristocrat and Anaxi have solidified their hold on the US gambling markets with retail casino partnerships.

In Michigan alone, Aristocrat offers its gaming options to four leading casinos, all of which account for 60% of the revenue market share among Michigan online casinos. One of the fruits of this partnership was that the total revenue generated by Aristocrat in the first six months of 2023 increased from $833.5 million in the previous year to $976.5 million.

“In summary, (the company) delivered a resilient result for the first half of the 2023 financial year, demonstrating excellent fundamentals and strong operational momentum. Once again, Aristocrat’s performance highlights the benefit of sustained investment to grow and diversify its operations, including in adjacent markets and segment opportunities,” Aristocrat’s representatives noted in the Half Year Profits Announcement.

Across the country, Aristocrat grew its retail expansion by 9%, boosting its operations to cover 11,000 units in the whole of North America. Additionally, its games supplier subsidiary, Anaxi has entered partnership deals with multiple casinos representing 55% of the country’s total iGaming market share.

Anaxi and Aristocrat Set to Introduce New Titles into Michigan in Second Half of 2023

As part of sustaining its expansion in the North American markets, Anaxi and Aristocrat are subsequently looking to add more games into its libraries. The company is quickly looking to retool some of its existing titles to make them eligible for high-limit gambling rooms.

Perhaps the best part of Aristocrat’s gaming operations in Michigan is how it offers its classic products to different audiences through innovative methods. Some of its most famous titles include Dragon Link, Lightning Link and Buffalo. Anaxi and Aristocrat also have a highly expansive catalog and work is being done to ensure the gaming experience is more immersive for players in the second half of 2023.

PokerStars Revenue Up By 14% Since Launch of Interstate Poker This Year

Another big earner from the first half of 2023 is PokerStars, thanks in part to the launch of interstate poker in Michigan. PokerStars became the first brand to introduce interstate poker in the Great Lakes State and has already seen accompanying growth since the measure.

PokerStars launched interstate poker in Michigan on Jan. 1, 2023, and has since witnessed a 13.8% growth. In addition, the casino posted a higher half year revenue growth than other leading gambling platforms in Michigan, including BetMGM and WynnBet MI Casino.

The sharp increase in revenue between December 2022 and January 2023 has been one of the sharpest indicators that interstate poker contributed immensely to the growth of the brand. Between December 2022 and January 2023, PokerStars saw its revenue grow by a whopping 64.6%, from $2.2 million to $3.6 million.

Throughout the first five months of the year, PokerStars recorded a positive year-over-year growth compared to the first few months of 2022. Its revenue has also steadied in the $2.7 million to $3 million range. Unfortunately, the MGCB combines online poker revenue with iGaming figures, so it’s impossible to determine exactly how much came from interstate poker.

PokerStars Michigan is hoping to improve upon its position with the World Championship of Online Poker series scheduled for September 10 this year. The series will run for three weeks and is set to end on October 4. While PokerStars is yet to release the full schedule and prize pool, there’s a very good chance the brand would outclass the $100 million prize pool from last year when it hosted 367 tournaments.

Jessica is a news contributor to Gamble Online Michigan. She holds a Bachelor's degree in Economics but has over three years of experience working in the hospitality and gambling industry. Despite her core finance and investment banking background, she has been a casino feature writer for N1 Interactive Limited and multiple gambling affiliate sites. Her work has been featured on the bet365 blog, casino.zone and Max Force Racing. She spends her time between Michigan and California, staying up-to-date on the latest industry developments