Scientific Games reports 25% revenue growth as $7bn generated in sales
SciPlay has also reported its financial results for the period.
Scientific Games has announced its financial results for the period ending September 30, 2021.
Third quarter revenue for SG was $539m, a 25% year-on-year increase when compared to 2020’s $432m. The company cites continued success throughout the US as key growth factors, with gaming operations, games sales, and table offerings all expanding.
Barry Cottle, president and chief executive officer of Scientific Games, said: “In just the last few months we have made tremendous progress on our strategic pillars, delivering on our promises, and rapidly advancing our vision to be the leading cross-platform global game company. With the sale of our lottery and sports betting businesses we are transforming our Company, raising $7bn which will significantly de-lever the balance sheet and enable us to invest for growth.
“Operationally we also made great strides in the quarter, further cementing the turnaround at our Gaming business, strengthening our leadership position in iGaming, and making great progress expanding in casual at SciPlay.”
Net income from continued operations came in at $100m, a significant increase from the net loss of $187m recorded in the prior year as finances were impacted by the Covid-19 pandemic.
Meanwhile, consolidated AEBITDA from continuing operations was $203m, a 74% year-on-year increase.
Connie James, executive vice president and chief financial officer of Scientific Games, went on to say: “We have an exciting path ahead of us as we move rapidly to unlock significant value. With the announced sale of lottery and sports betting businesses as well as organic investments and key acquisitions like Authentic, Lightning Box and Koukoi, you are quickly getting to see the shape as well as the pace and agility of our new organization. The divestitures put us on a clearly defined path to materially de-lever while providing us with the ability to invest.”
SciPlay has also revealed its financial results for Q3, highlighting net income growth of 5% and a player conversion rate of 8.5%. Revenue for the company was $146.6m, down 3% from the prior year. This has been attributed to an isolated event in Jackpot Party Casino.
“Our team executed a number of operational achievements in the quarter, continuing the strong momentum across key areas of the business. Gold Fish® Casino delivered another exceptional quarter in Q3 and has huge momentum going into Q4,” added John Wilson, CEO of SciPlay.”
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