Gaming giant cites “outstanding fundamentals” as the basis for its long-term confidence.
Australia.- Global slot machine giant Aristocrat Leisure Limited said its balance sheet and diversity of operations leaves it well placed to face the economic impact of the Coronavirus pandemic.
The group issued a statement regarding measures it has put in place to protect staff, including broad travel bans as well as social distancing policies that have 80% of Aristocrat’s 6,400-strong staff now working from home.
The company cited “outstanding fundamentals” as the basis of its long-term confidence, pointing to a conservatively geared balance sheet with a net debt to EBITDA ratio of 1.4x and a long-term loan facility not due until October 2024 that is covenant-lite.
“Operations are also spread across key global and regional markets, and our Digital and Land-Based businesses are addressing a broader range of segments and genres than ever before,” the statement said.
“Aristocrat is executing comprehensive short and longer-term risk management and mitigation plans, with the intention to position the business to emerge from the challenges caused by COVID-19 as quickly and strongly as possible,” it added.