2026 Aristocrat Leisure (ALL) hybrid AGM

1. Relations with the Ainsworth family

Aristocrat chair Neil Chatfield revealed that 102yo billionaire founder Len Ainsworth is no longer claiming his free new car perk every 3 years. He used to take Porsches and Bentleys. Not any more, it seems. Watch video of his answer via Twitter, plus see how The Age covered this exchange.

Aristocrat chair Neil Chatfield also confirmed that the Ainsworth family are still their largest shareholder with about 15%, even though this is not disclosed. Len has a deal to take 80% of any share sales by his 7 sons and has sued to enforce this in the past. Surely this should be disclosed as there could be an avalanche of share sales when Len passes. Watch video of exchange via Twitter.

2. How big is our Australian market share and will it grow after Light & Wonder settlement?

Pokies giant Aristocrat don't like admitting Australian gamblers lose about $7 billion a year on their nearly 100,000 machines spread across the 5,000 Australian casinos, pubs and pokies clubs, but chair Neil Chatfield said they have about 50% of the market and customers are really happy. Watch video of exchange via Twitter. The CEO Trevor Croker also weighed in suggesting this market share is likely to grow after the recent legal settlement with Light and Wonder.

3. Please stop reviewing the ASX listing every year

Having been listed on the ASX since 1996, it is bizarre that Aristocrat Leisure does a formal review of its ASX listing every November. Tried to get chair Neil Chatfield to promise they'd never flee Australia on his watch. Surely it should be reviewed every 3 years at most. Watch video of his answer via Twitter.

4. Is chair Neil Chatfield going to run again next year?

Will long serving Aristocrat chair Neil Chatfield nominate again when his term expires in February 2027? He should but was being cagey at the recent AGM even joking that the issue “wasn't on the agenda” as he shuffled through his papers. Watch video of exchange via Twitter.

5. You're not serious about making your pokies less dangerous

Quoted Tim Costello when telling Aristocrat they'd been successful, yet again, in foiling $1 maximum bets and cashless pokies in pubs and clubs across Australia. With former Clubs NSW CEO Anthony Ball running Aristocrat's government and stakeholder relations, they are not serious. Watch video of the question being asked via Twitter.

Watch this response from Aristocrat CEO Trevor Croker who claimed $1 maximum bet pokies don't change much - how would he know when they refuse to install them? And after doing the cashless trial at West Leagues, he said it is now sitting with the NSW government to move. Don't expect Pokie Minns to do anything much, such is NSW Labor's capture by the gambling industry.

6. How do we stop retiring NEDs defecting to Light and Wonder?

After former Aristocrat lead US director Steven Morrow defected to rival Light & Wonder, joining a whole host of former Aristocrat executives, we had an interesting discussion at the AGM about confidentiality and restraining NEDs. Seems they can work wherever they like after retiring. Watch video of exchange with chair Neil Chatfield via Twitter.

Had a second crack at this issue. After the Aristocrat experience, it is ridiculous that public company NEDs are not restrained from joining a competitor board the day after resigning. Aristocrat chair Neil Chatfield also reckons he is one of the few “dinosaurs” who still works off printed board papers. Watch video of exchange.

7. Why do you need 4 US-based directors?

Aristocrat chair Neil Chatfield explains why they need 4 US-based directors and they have a lead US director, with the baton passing from Pat Ramsey to Bill Lance. Watch video of his answer via Twitter.

8. Well done fixing rem and backing the two longest serving directors to stick around

Hate the way Aristocrat fleeces addicted gamblers with their products the world over but still told veteran directors Neil Chatfield and Kathleen Conlon at the recent AGM that they were “gun” operators who should stick around. Their financial performance has been extraordinary and they also responded well to last year's 23% LTI proxy protest vote. Watch video of exchange via Twitter.

9. CEO LTI vesting history

Asked Aristocrat CEO Trevor Croker to summarise his LTI vesting and share trading history during his 6 years as CEO. Wow, what a man of detail!! He had all of us laughing, including the chair and rem chair Kathleen Conlon. Watch video of his answer via Twitter.

Copyright © 2026 The Mayne Report. All rights reserved

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