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Aristocrat results fall short of expectations

23 August 2007

AUSTRALIA -- As reported by Bloomberg: "Aristocrat Leisure Ltd., the world's second-largest maker of slot machines, fell the most in three months on the Australian Stock Exchange after first-half sales in Japan were 45 percent below forecast.

"The shares fell 3.6 percent after Sydney-based Aristocrat said it sold just 11,063 games in Japan during the half, compared with a May forecast of 20,000 units.

"Chief Executive Officer Paul Oneile, who faces stalling earnings in his biggest markets of the U.S. and Australia, is struggling to revive sales of his Pachislo machines in Japan as new regulations curbing payouts prove less popular with gamblers. Aristocrat marketed four new games in the half with demand for its `Danceman' machine falling short of expectations.

"...Aristocrat shares fell 48 cents to A$12.85 at the 4:10 p.m. close of trading in Sydney, extending this year's decline to 19 percent. The stock was the biggest decliner in the Morgan Stanley Capital International World Index during Asian trading hours..."

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Aristocrat results fall short of expectations is republished from CasinoVendors.com.