SciPlay says Q1 revenue grew 28%
Payer conversion rate set a record for the fifth straight quarter.
SciPlay Corporation on Monday reported financial results for its first quarter, a three-month period ending March 31.
The Las Vegas-based developer and publisher of digital games on mobile and web platforms said revenue for Q1 2021 was $151.1m, up 28% YOY from $118.3m in Q1 2020.
The growth figure outperformed the social casino market, the company said.
Net income improved 22% from the same quarter one year earlier, to $37.9m from $31.1m.
Josh Wilson, SciPlay’s CEO, said growth was broad based and the company saw “strong performance” across its portfolio. It achieved an all-time-high 8.1% payer conversion rate, he reported.
“Our teams continued to execute at a high level this quarter, delivering strong top and bottom line results with broad-based strength across the portfolio,” Wilson said in a statement. “Our payer focus and live-ops strategy delivered sequential growth in key monetization metrics and we achieved record payer conversion for the fifth consecutive quarter.”
The soft launch of Solitaire Pets Adventure in April was, “an important step in our path to diversification in the $20B+ casual genre,” Wilson continued. “This is an exciting time in SciPlay’s journey as we invest to build our pipeline of games to drive long-term growth and shareholder value.”
Mike Cody, chief financial officer, added, “This was another strong quarter of execution and monetization, building on the gains from 2020. Importantly, we were able to deliver 28% top line growth, performing above the social casino market. Our social casino portfolio has never been stronger and our investment in the casual genre should enhance our ability to deliver shareholder value.”
SciPlay currently offers seven core games, including four social casino games and three primary casual games. It recently added a solitaire social game targeting casual game players.
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