It has been a mixed day for owners of ASX 300 gaming shares.

The three shares below are making big moves, but only one of them is heading in the right direction. Let's see what is happening:

Aristocrat Leisure Ltd (ASX: ALL)

The Aristocrat share price is down 4% to $75.51. This has been driven by the release of the ASX 300 gaming share's annual general meeting update.

At the meeting, management revealed that its North American gaming operations have started FY 2025 somewhat softly. It said:

In North American Gaming Operations, the average fee per day that we earn on units leased to customers was lower than the comparable quarter in financial year 2024, reflecting Aristocrat's customer and regional mix, and is likely to persist through the first half. However, we anticipate a sequential improvement in fee per day over the second half of fiscal 25, with Aristocrat maintaining market-leading fee per day performance and continuing to take share, whilst maintaining our strong segment profit margins.

Nevertheless, Aristocrat continues to expect to deliver NPATA growth over the full year to 30 September 2025 on a constant currency basis. This excludes the Plarium business, which has been sold.

However, this NPATA growth is expected to be skewed to the second half of the year, mainly reflecting its Gaming business.

Skycity Entertainment Group Ltd (ASX: SKC)

The Skycity share price is down 8% to $1.21. This follows the release of the casino and resorts operator's half year results.

SkyCity reported a 5.2% decline in revenue to NZ$422 million and a sizeable 73.1% decline in net profit to just NZ$6.1 million. Unsurprisingly, no interim dividend was declared.

Chief Executive Officer, Jason Walbridge, said:

We continue to operate in challenging market conditions with subdued consumer confidence, so we're pleased to see strength in our visitation numbers as people continue to enjoy coming to SkyCity for their entertainment.

In light of the ASX 300 gaming share's poor first half performance, management has cut its FY 2025 earnings guidance. It now expects underlying EBITDA of NZ$225 million to NZ$245 million (from NZ$245 million to NZ$265 million).

Tabcorp Holdings Ltd (ASX: TAH)

The Tabcorp share price is up 3% to 67.5 cents. Investors have been bidding the ASX 300 gaming share higher after it released a strong half year result.

Tabcorp reported a 10.1% increase in revenue to $1.33 billion and a 25.6% jump in net profit after tax (before significant items) to $22.1 million. This allowed the company's board to declare an unfranked 1 cent per share interim dividend.

Management advised that the successful transition to the new, modernised Victorian Wagering and Betting licence was a key driver of this growth. It provided an EBITDA uplift of $36.4 million for 4.5 months in the first half, which was broadly in line with expectations given soft trading conditions.

The company's CEO, Gillon McLachlan, said:

Tabcorp is getting fitter. We have increased our wagering and media capability at the leadership level, developed a simpler, more cost effective operating model, and are operating with a bias for action and increased accountability.