|
Getting your Trinity Audio player ready...
|
Slot machine gaming giant Aristocrat online, has had one of its most record-breaking sales in history. However, the land casino gaming has not been doing well for the company.
After the coronavirus outbreak, land casinos have been shut down to promote self-isolation. Meaning, a lot of casino games players are now turning to real money casinos for their online gaming.
Hence, land casino gaming provider has been facing major losses. But, Aristocrat Leisure, is proving that diversity is always the best option when it comes to the business world.
Because the company also offers online casino gaming, it is now making up for the losses it is making from land casinos with online casino gaming in Australia.
Aristocrat Online 2020 Sales
The Australian lockdown was put in place in March 2020. And, land casinos have been shut since then. However, some casinos are now re-opening. But, that does not mean that thee sales are guaranteed to back to where they were before the shutdown.
But, with most players going for online gaming, Aristocrat online has more than tripled its sales from$346 million to over $1, 3 Billion. most of the earnings it has acquired in the few months have been coming from their online market.
According to their quarterly report, the drop in land sales is quite sif=significant. But the online market profits have risen by 19%. Hence, the overall online sales are recording an overall 7 % rise.
However, according to the company, their losses inland casino gaming were more than the estimated losses made by Citigroup analysts
Online Gambling In Australia
Aristocrat is not the only one that has been benefitting from the COVID 19 lockdown. Hence, there has been an alarming rise in the number of people gambling online.
For example, Australia has recorded an over 50 % rise in online gambling revenues. Meaning, online casinos might have just had their best year in casino gaming history.
But, with the land casinos starting to reopen, are the sales going to keep rising? Leading us to the question on whether or not Australians are now ready for land casino gaming.
Land Casinos in Australia
With the COVID 19 cases falling, most countries have lifted their lockdown rules. Therefore, land casinos are slowly coming back to life.
In Australia, big casino giants like the STAR group and Crown resorts have been trying the best they can to stay afloat. For example, the Star resort has lain off 8500 of its workers. Of the remaining, there is a 35% cut on income for the board members. On the other hand, Crown resort let go of 11 500 of its workers.
For Aristocrat online, the mother company has put 1000 workers on standby, while 200 have been completely laid off. Also, another 200 of the permanent workers are currently working as temporary workers.
Conclusion
Now that online casino gaming is on the rise, it is safe of casino gaming providers to start thinking about shifting markets. Especially considering that land casino revenues are quite shaky right now. Aristocrat online is a good example of how a good investment and diversity can pay off for any company.