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About units of the machine, based on the drama series that introduces viewers to a world of flesh-eating zombies, have been installed in US casinos in the first six months after release.
The practice is prohibited in Australia, but in the United States casinos and poker machine makers can enter into revenue sharing agreements.
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The deals are reserved for a casino's most profitable machines. From having no business in this segment four years ago, Aristocrat now has about 10 per cent of the US participation market.
Deutsche Bank analyst Mark Wilson said Aristocrat had a pipeline of participation titles to be released "well into the financial year".
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A lack of new casino openings is putting a lid on new sales, while replacement sales are depressed. On gaming operations Mr Wilson said casino operator focus on the segment but "show no willingness to increase it as a share of their floor".
Mr Odell said a recent run of industry consolidation will mean his rivals are distracted by bedding down mergers and acquisitions. This will allow Aristocrat to steal market share, he said. And Scientific Games bought Bally in August this year. But Mr Odell said his objective was not to strip out costs, so he will have a clearer path than his rivals.
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VGT supplies slot machines that run jackpots on a network, as opposed to individual random number generators within each machine. It has strong links into American Indian tribal casino markets, especially in Oklahoma. Mr Odell said in time there will be an opportunity to push VGT's products into tribal casinos in other states like California, where Aristocrat already supplies software and administrative systems.
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The deal is set to close in the coming weeks, subject to regulatory approvals. In the regular US market for straight sales, Aristocrat has a share in the mid-teens. Get the latest news and updates emailed straight to your inbox. Info Save articles for later.
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