Scientific Games Corporation saw its revenue increase 9% in the three months to 31 December 2017 to US$752.2 million, including growth in all three business segments.
The group’s positive results were led by the gaming segment, where revenue increased 7% to a quarterly record of US$492.5 million thanks to the global shipments of 10,249 new gaming machines. Lottery segment revenue rose 9% to US$217.2 million while the interactive segment enjoyed 24% growth to US$113.3 million.
Operating income increased to US$97.2 million in 4Q17 from an operating loss of US$12.3 million a year ago, “reflecting revenue growth, a more profitable revenue mix, more effective business processes and lower depreciation and amortization,” the company said. Net loss also declined to US$43.1 million from US$110.8 million the fourth quarter of 2016.
Attributable EBITDA increased 11% to US$324.5 million from US$293.5 million a year ago.
The 4Q17 results boosted Scientific Games’ full year earnings, where revenue increased 7% year-on-year to US$3.08 billion. FY17 saw operating income soar to US$393.1 million compared to US$130.6 million in the prior year, with net loss of US$242.3 million compared with a net loss of $353.7 million a year ago.
Attributable EBITDA grew 11% to US$1.22 billion.
“Our results in the fourth quarter 2017 reflect the improvements achieved in revenue, operating income and AEBITDA growth by each of our business segments,” said Scientific Games CEO and President Kevin Sheehan. “For 2018, we believe the company is well positioned to continue to grow and build on the success attained in the past year.”
Michael Quartieri, Chief Financial Officer of Scientific Games, added, “Our improved performance and strong future prospects enabled us to successfully refinance a portion of our capital structure in 2017 and 2018 that significantly lowers our cost of capital and increases future cash flow.
“We believe there is potential to achieve further improvements in 2018 and beyond, and we remain committed to our path of deleveraging and growing our business.”