Scientific Games reports 18% revenue decline for Q3 2020

By Peter Lynch

Scientific Games has reported revenue of $698m for Q3 2020, an 18% decline from the $855m reported in the same period last year. 

It was, however, a 23% increase from the $539 total in Q2 2020. 

Adjusted earnings meanwhile fell 32% to $235m, having stood at $344m for the same period in 2019. 

The company revealed that gaming revenue was hugely impacted by the current COVID-19 pandemic and the subsequent reduced operations of casinos worldwide. 

But Scientific Games has pointed to the success of their SciPlay, Digital and Lottery businesses, which all witnessed an increase in adjusted earnings. 

“As a result of our team’s focus on our strategy, our diverse portfolio and our commitment to cost management, we delivered strong cash flow in the third quarter,” said Barry Cottle, president and chief executive officer of Scientific Games. 

“I really am excited around all the great games, products and solutions we have to help our partners navigate the current environment and provide innovative solutions for the future.  

“I’d also like to welcome the proven industry leaders to our board who will augment our focus on de-levering our balance sheet and will help the company prudently and thoughtfully shape our corporate strategy.”

Scientific Games' share price currently sits at $35.26, up around 12% in the last week.

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