Scientific Games reports 12% drop in revenue for Q4
Scientific Games has reported revenue for the three months ending 31 December 2020 to be $762m, a 12% year-on-year decline from $863m reported in 2019, but a 9% increase from $698m in Q3.
Gaming brought in $286m in revenue, a 36% drop from last year, lottery made up $256m, while SciPlay saw a 30% increase and earned $147m, and digital recorded $73m. Operating expenses for Q4 were $700m, operating income stood at $62m. Net loss was $84m, a 47% decrease compared to $37m for the period in 2019.
Total revenue for the year that ended on December 31 was $2.72bn, against $3.4bn in 2019. Net loss for 2020 was $548m, a significant 364% increase from $118m the year before. AEBITDA dipped by 40% from $1.3bn to $800m in 2020.
According to its statement, the declining figures were due to the challenges the COVID-19 pandemic caused for the gaming industry.
“The strong execution coupled with the diversity of our business enabled positive cash flow,” said CEO and President of Scientific Games Barry Cottle. “The executive team and our board are working purposefully to transform our company, capitalise on the evolving industry trends and deliver outsized returns to our Shareholders.”
“We continued to execute, having driven cash flow improvements in the fourth quarter despite a number of COVID-19 related restrictions to our land-based business,” added CFO of Scientific Games Michael Eklund.
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