Posted on: February 16, 2023, 11:14h.
Last updated on: February 16, 2023, 12:22h.
Aristocrat Leisure Ltd. and BetMGM announced Thursday that the slot machine manufacturer’s online unit will supply the gaming company with content for its internet casino.
Aristocrat’s newly formed Anaxi business will deliver gaming content to the internet casino giant. Formed last year as part of Aristocrat’s move to bolster its iGaming footprint, Anaxi is the parent company’s real money, online gaming entity.
In February 2022, Aristocrat announced that it would be establishing a combined online Real Money Gaming and Customer Experience Solutions business, and in October, announced Anaxi as the new name and brand for this emerging business,” according to a statement.
The content Anaxi is providing to BetMGM is the first release by the Aristocrat unit. BetMGM is the largest internet casino operator in North America and is equally controlled by MGM Resorts International and Entain.
Aristocrat Looking to Boost Online Profile
Australia-based Aristocrat is one of the largest slot machine manufacturers in the world and holds a significant percentage of the North American market for such devices thanks to well-known titles such as Crazy Cash, Moon Race, Ninja Moon, and Panda Moon, as well as the famed Buffalo series.
While US casinos are in the midst of an ongoing slot upgrade cycle — a positive for companies like Aristocrat — the iGaming boom is proving there’s carryover value for makers of popular slots titles. Put simply, plenty of slots fans enjoy playing these games online, and therefore, some internet casino operators offer hundreds of titles.
Online casino companies embrace slots because it’s high-margin fare with no physical machines required. Additionally, slots players have penchants for being devoted to select titles and manufacturers, confirming there’s upside profit potential for operators in agreements such as the one between Anaxi and BetMGM.
Specific to Aristocrat, analysts widely expect the company to continue growing its online presence. Its percentage of revenue from its digital business nearly tripled over the six years ending in 2022.
Expect More Digital Slots Deals
As iGaming grows in the US and operators increasingly see value in boosting internet slots offerings, it’s likely more agreements such as the one between Anaxi and BetMGM will be announced. That’s been the case in recent weeks.
On Wednesday, Everi Digital, a unit of Everi Holdings, said it entered into an agreement with Caesars Sportsbook & Casino to provide that internet casino operator with slots content. Everi Digital content is currently available on more than 80 online casinos, according to the company.
Last week, Las Vegas-based PlayAGS said it inked an agreement with DraftKings to provide that gaming operator with internet slot content. PlayAGS will provide DraftKings with more than 20 of its proprietary slot titles.
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