Aristocrat Leisure recorded a four percent gain in social-casino market share in May, while its competitors lost four percent. That was the report from Jefferies Equity Research analyst Kai Erman, published June 5.
The gains were measured on both Android/iOS platforms by SensorTower. This led Erman to conclude that Aristocrat “has demonstrated significant share gains in social casino over the past 18 months, which we expect to continue.” He predicted roughly five percent growth for Aristocrat’s Product Madness line over the balance of 2025.
Revenue for Product Madness also grew four percent in May. This was driven by the games Lightning Link, which jumped 13 percent; Mighty Fu Casino: Slots Game, which leapt 52 percent; and Cashman Casino Slots Games up five percent.
Erman noted that Light & Wonder’s competing SciPlay division outperformed the social-casino market by three percent last month. However, Light & Wonder’s Jackpot Party was seen to be lagging, with revenues falling 15 percent.
“The market remains significantly more challenged than this,” Erman cautioned. He observed that non-Aristocrat/Light & Wonder companies were down four percent, but not as badly as the double-digit declines heretofore. Over the past six months, Erman’s tracking showed Product Madness to be up five percent, while competing studios were down nine percent.
The analyst also pointed out that Aristocrat was holding up under sundry competitive pressures. “Ongoing launches of sweepstakes products may provide competitive pressures; however, we do note that discussion on the legality of such products has increased in the U.S., which may slow ramp-up.”
Although sweepstakes games have dented other social-casino operators, Erman contended, that was not the case at Aristocrat. “We expect [this is] driven by social-casino slot content that is preferred by customers more than any slots products offered via sweepstake.”
Erman ended by warning that igaming expansion in the United States would present a competitive menace to social casinos. However, Aristocrat would benefit from conversion of social-casino customers to igaming, “given stronger operating margins and unit economics in the category.”
