Jefferies optimistic on revenue growth for Australia's Aristocrat Leisure

Jefferies says upbeat land-based gross gaming revenues (GGR) data across the U.S. provides confidence in poker machine giant Aristocrat Leisure's ALL.AX fee per day (FPD) recovery in 2H25

Brokerage notes April GGR print to date indicates a 3.5% growth compared to the same period last year

Our observations of historical GGR in periods of economic downturn as well as general consumer and slot behaviour give us confidence that slot demand should remain resilient relative to other forms of consumer spending and gambling - Jefferies

Jefferies says ALL should continue to gain market share in the U.S. given its new product momentum

Brokerage adds premiumisation of ALL's U.S. install base will contribute to its FPD growth over time

All 14 analysts rate the stock "buy" or higher, median PT A$72.2 - data compiled by LSEG

Stock down 8.5% YTD, as of last close