Global gaming giant Scientific Games reported consolidated revenues of US$762 million in 4Q20, down 11.7% year-on-year but 8.4% higher than revenue of US$698 million recorded in the September quarter.
The Q4 results reflected continued improvement for Scientific Games as it emerges from the heart of the COVID-19 pandemic, with the net loss of US$84 million narrowed from a loss of US$198 million in 2Q20 and US$111 million in 3Q20.
Consolidated Adjusted EBITDA also improved by more than 100% sequentially from US$121 million to US$244 million, although this was 25.6% lower than the final quarter of 2019.
Notably, Scientific Games’ largest segment, Gaming, was the only segment to suffer a year-on-year decline in revenues, down 36% to US$286 million on “COVID-19 disruptions.”
However Lottery, SciPlay and Digital all saw increases: Lottery revenue grew 10% year-on-year to US$256 million and Digital by 1% to US$73 million, while SciPlay saw a 30% increase in revenue to US$147 million and 41% rise in Adjusted EBITDA to US$45 million.
“While 2020 certainly had unforeseen challenges, I couldn’t be more proud of our team for successfully navigating through them,” said Scientific Games CEO and President, Barry Cottle.
“The strong execution coupled with the diversity of our business enabled positive cash flow. As we start off the year, I am truly excited about the team, products, and game franchises that should enable share gains, deal wins, and opportunities to enter new genres.
“The executive team and our Board are working purposefully to transform our company, capitalize on the evolving industry trends and deliver outsized returns to our shareholders.”
For FY20, Scientific Games reported a 19.9% decline in revenue to US$2.72 billion, with a net loss of US$548 million versus a loss of US$118 million in 2019.
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