Scientific Games Corporation has announced a 10% increase in revenue in 2Q18, driven by US$50.6 million in added revenue following the acquisition of sports betting firm NYX and growth across most business units.
The company’s revenue for the period climbed to US$844.7 million for the quarter, up from US$766.3 million 12 months ago, with net loss decreasing from US$39.1 million to US$5.8 million.
Consolidated Attributable EBITDA increased 8% to US$340.4 million, “driven by higher revenue and more efficient business processes throughout the organization.”
Group-wide gaming revenue increased by 3% year-on-year to US$470.7 million in 2Q18, despite gaming operations revenue falling 10% due in part to a negative impact of US$6.5 million from the implementation of new accounting standards.
Gaming machine sales increased 3% to US$167.6 million while gaming systems revenue grew 26.2% to US$84.3 million. Table products also grew 22% to US$58.9 million.
Total lottery revenue was up 2% to US$207.1 million with social gaming revenue enjoying a 9% increase to US$99.7 million.
Scientific Games’ new CEO and President Barry Cottle said, “I’m very pleased with our accomplishments this quarter and particularly proud that all four businesses continued to experience growth this quarter and are accelerating our financial momentum.
“Our core businesses are strong and ready to capitalize on the significant opportunities in the marketplace to drive growth by delivering great games and robust platforms and systems that enable them. We remain focused on delivering results, maintaining our financial discipline and strategically investing in our future to maximize shareholder return.”
CFO Michael Quartieri added, “This quarter marks our eleventh consecutive quarter of year-on-year growth in revenue and AEBITDA. We have clear momentum across all of our global businesses. The improvement in our operating results, along with lower interest costs, provides us with a clear path of increasing cash flows, deleveraging and strengthening our balance sheet.”
