Latest news with #AristocratLeisure
News.com.au
17 hours ago
- Business
- News.com.au
‘Gradual easing': RBA rate call helped lift ASX to record high
Australia's sharemarket soared to a fresh record high on Tuesday, after a unanimous decision from the Reserve Bank of Australia to slash the cash rate. The benchmark ASX 200 gained 36 points, or 0.41 per cent, to finish the day's trading at 8,880.80. The broader All Ordinaries also finished the day in the green, up 32.70 points or 0.36 per cent to 9,150.30. The Aussie dollar slipped 0.18 per cent to 65.02 US cents. On an overall positive day eight of the 11 sectors finished higher, led by utilities, consumer discretionary, financials and telecommunications. JB Hi-Fi was among the major winners up 6 per cent to $113.85, Aristocrat Leisure was up 1.2 per cent to $70.17 and Breville Group gained 1.32 per cent to $35.24. The big four banks also finished in the green. CBA gained 0.11 per cent to $178.80, NAB jumped 0.95 per cent to $39.19, Westpac gained 0.93 per cent to $34.63 and ANZ outperformed the rest up 2.2 per cent to $31.93. Telstra group closed flat at $4.98, while Car Group soared 5.03 per cent to $39.07 and EVT Limited gained 0.47 per cent to $17.02. Shares jumped during the afternoon's trading following the announcement from the Reserve Bank of Australia cut interest rates from 3.85 to 3.6 per cent. While the move was widely anticipated, financial markets are now pricing at least one more interest rate cut in 2025. IG market analyst Tony Sycamore said share and money markets moved on the assumption of multiple rate cuts. 'Following the RBA decision, the Australian interest rate market is almost fully priced for additional 25 basis point rate cuts in November and March 2026, which would bring the cash rate back to around 3.1 per cent, considered near 'neutral', where rates are neither restrictive nor contractionary.' AMP chief economist Shane Oliver agreed, saying 'expect further gradual easing to 2.85 per cent'. 'The RBA now sees growth recovering more slowly,' he said. 'But with growth forecast to run below potential – judged to be around 2 per cent per annum – until mid next year the risk is that this results in a rising trend in the unemployment rate in the near term, rather than a flat trend as the RBA is forecasting.' In company news, Star Entertainment shares soared 23.60 to $0.11 after announcing it will offload its Brisbane Queen's Wharf precinct for $53m. While Star won't get a large cash injection, the deal eases the burden on the business which would have to cough up its share of the $1.4bn debt tied to the precinct. Shares in Life360 also soared 7.8 per cent to $40.77 after reporting second quarter revenue jumped 36 per cent to $115.4m. Seven West Media shares slumped 6.67 per cent to $0.14 after profits slumped 63 per cent to $16.6m for the 2025 financial year. SkyCity Entertainment closed 0.6 per cent higher to $0.90 after telling the market its Adelaide casino has been found suitable to retain its licence.
Yahoo
27-06-2025
- Business
- Yahoo
Why Light & Wonder Stock Blasted 10% Higher Today
The company had a good day in court. It's being sued by a peer who's alleging intellectual property misappropriation. 10 stocks we like better than Light & Wonder › Gaming technology stock Light & Wonder (NASDAQ: LNW) -- formerly known as Scientific Games -- proved to be quite the solid bet on Wednesday. On some very positive news in the legal sphere, investors piled into the company's shares, pumping them more than 10% higher in price. That looked especially good when compared to the S&P 500's (SNPINDEX: ^GSPC) flatline performance. Light & Wonder is currently locked in a legal dispute with peer company Aristocrat Leisure. Aristocrat is accusing it of copying elements from one of its casino slot games in the design of Light & Wonder's Dragon Train game. On Wednesday, the Nevada court in which the case is being heard made a ruling on discovery that favors Light & Wonder. It ruled that the company will not have to reveal its math models on the slot games in question. In addition, the court asked for specificity from Aristocrat regarding the trade secrets it's litigating to protect. Aristocrat, which is headquartered in Australia, brought its case against the American company in 2024. At the time, it stated in a press release that it "will seek all appropriate remedies to address the harm caused by Light & Wonder's actions." Light & Wonder had, understandably, been fairly quiet about the case. Perhaps it'll speak up more now that it seems to be tilting in its favor. Having said that, I wouldn't be ready to break out the champagne if I were a shareholder, at least not yet. Court cases can develop and resolve in unexpected ways, and Light & Wonder isn't out of the woods. I don't think anyone should buy or sell the company's stock based on predictions of the lawsuit's outcome. Before you buy stock in Light & Wonder, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Light & Wonder wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $689,813!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $906,556!* Now, it's worth noting Stock Advisor's total average return is 809% — a market-crushing outperformance compared to 175% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 23, 2025 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Light & Wonder. The Motley Fool has a disclosure policy. Why Light & Wonder Stock Blasted 10% Higher Today was originally published by The Motley Fool
Business Insider
25-06-2025
- Business
- Business Insider
Aristocrat Leisure (ARLUF) Receives a Buy from Bell Potter
In a report released today, Baxter Kirk from Bell Potter maintained a Buy rating on Aristocrat Leisure (ARLUF – Research Report), with a price target of A$79.00. The company's shares closed last Friday at $41.41. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Kirk is an analyst with an average return of -4.8% and a 50.00% success rate. The word on The Street in general, suggests a Strong Buy analyst consensus rating for Aristocrat Leisure with a $46.74 average price target, representing a 12.87% upside. In a report released yesterday, Morgans also maintained a Buy rating on the stock with a A$71.00 price target. ARLUF market cap is currently $27.09B and has a P/E ratio of 29.52.
The Guardian
24-06-2025
- Health
- The Guardian
‘Tricky ethical space': endometriosis centre funded by family with links to poker machine giant divides experts
A $50m pledge to 'revolutionise endometriosis research' by a family with links to a poker machine giant has divided academics and public health experts, who believe universities should distance themselves from the gambling industry. But other university staff cite a 'moral obligation' to immediately use the money to ease the suffering of roughly 1 million Australian women living with endometriosis, rather than wait for 'perfect funding sources'. The University of New South Wales announced in May it had secured a 10-year funding commitment from the Ainsworth family to establish the 'world-first' Ainsworth Endometriosis Research Institute, which aims to 'accelerate breakthroughs in diagnosis and create precision-based treatments'. According to the university, three generations of the Ainsworth family have supported the initiative, including Len Ainsworth, who founded what became the world's largest poker machines manufacturer, Aristocrat Leisure, in 1958. Len Ainsworth also founded Ainsworth Game Technology, a smaller poker machine manufacturer. Sign up for Guardian Australia's breaking news email The institute's creation has been praised by academics and public health campaigners who are simultaneously concerned by the damaged caused by poker machines in Australia. In the first three months of this year, NSW residents lost an average of $24m a day to the state's nearly 90,000 machines. Andrew Hayen, a professor of biostatistics at University of Technology Sydney, described endometriosis as 'an area of women's health that is long overdue for investment' but also sought to raise 'uncomfortable questions' about 'the ethics of investment'. 'Poker machines are a key driver of gambling addiction, financial distress, family violence and mental ill health,' Hayen said in a LinkedIn post. 'These harms are not abstract. They are experienced every day by individuals and families, many of them women. 'There is no doubt that more funding is urgently needed for endometriosis research. But accepting philanthropic donations sourced from an industry built on public harm creates a troubling contradiction. 'It is hard to imagine any university in Australia today accepting donations from the tobacco industry. We should apply a similar level of scrutiny here.' Akeel Feroz, a manager of partnerships and innovation at UNSW Canberra who was not involved in the fundraising negotiations, said Hayen had raised 'a valid concern' but said 'our moral obligation must be to the patients suffering today'. 'The women waiting years for diagnosis don't have the luxury of perfect funding sources, they need solutions now,' Feroz said. 'With proper research safeguards in place, this funding could have a tremendous positive impact on the lives of women.' Kate Da Costa, who leads Wesley Mission's gambling advocacy, said the charity had refused to accept philanthropy linked to poker machines as 'we can't campaign to minimise gambling harm while taking their money'. 'Although it's a very tricky ethical space to start to navigate, those of us in gambling reform can take heart that at least the conversations are now under way,' Da Costa said in response to Hayen's post on LinkedIn. A UNSW spokesperson said it had accepted the philanthropic support in 'good faith' with the 'expectation and intention' the contribution would positively affect the university. 'All donations are assessed per the UNSW gift acceptance policy, which considers reputational, ethical and legal factors,' they said. The spokesperson said over the past decade the support of the Ainsworth family had enabled a range of initiatives including cancer research scholarships, student facilities and engineering teaching and learning spaces – including the university's the Ainsworth Building, which hosts its engineering department. Other academics, including Poppy Watson from the University of Technology Sydney, said the partnership demonstrated the state of academic and research funding in Australia. 'Sadly, with the current funding decline for science in Australia, all universities and the government see philanthropic investment as the best possible way to continue funding scientific research,' Watson said. 'In reality, aren't most incredibly wealthy donors rich off someone else's back?' Four Ainsworth family members listed by the UNSW as contributors are directors of the newly created Grevillea Foundation, which helped establish the institute at UNSW and seeks to 'transform the lives of those affected by endometriosis today and into the future'. Grevillea Foundation and its directors were contacted for comment. Roughly 1 million Australian women are living with endometriosis and often experience lengthy delays and frustration before they are properly diagnosed, according to the not-for-profit charity EndoActive. The condition causes 40,000 hospital admissions each year and it says hundreds of thousands of other women are regularly in pain.
Business Insider
24-06-2025
- Business
- Business Insider
Aristocrat Leisure (ARLUF) Receives a Buy from Morgans
Morgans analyst Leo Partridge maintained a Buy rating on Aristocrat Leisure (ARLUF – Research Report) today and set a price target of A$71.00. The company's shares closed last Friday at $41.41. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Partridge is an analyst with an average return of -1.5% and a 44.00% success rate. Partridge covers the Consumer Cyclical sector, focusing on stocks such as Aristocrat Leisure , Jumbo Interactive Limited, and BlueBet Holdings Ltd.. The word on The Street in general, suggests a Strong Buy analyst consensus rating for Aristocrat Leisure with a $46.36 average price target.
