Aristocrat Leisure Ltd
ALL: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$69.00 | Rkcpd | Grqywvnml |
Don't Overlook the Strength of Aristocrat's Land-Based Gaming Business
Shares in Aristocrat screen as cheap compared with our unchanged AUD 41.00 fair value estimate. We think much of the focus has been on the firm's entry into online real-money gaming in the U.S., and the ill-fated PlayTech acquisition attempt. But we think the market has been distracted by this opportunity, overlooking the strength of the core land-based gaming business which underpins the firm's narrow economic moat.