Scientific Games net loss tops $100m for Q2

By David Cook
Provider Scientific Games has reported a net loss of $102.2m for the second quarter of 2015.

The net loss, which is for the three months ended 30 June, is in comparison with a net loss of $72.4m for the same period last year, and an operating loss of $100,000 was reported in comparison with operating income of $3.6m for Q2 2014.

Revenue went up 66% year-on-year to $691.5m, and it is the fourth consecutive quarter where Scientific Games has reported a revenue increase as well as an operating loss.

Attributable EBITDA increased 101% to $266m and accounted for 39% of the company’s revenue, up from 32%.

Capital expenditures was $70.7m, up 28%, and total debt went down 0.4% to $8.48bn.

Scientific Games CEO and president Gavin Isaacs said: “Our focus on accelerating revenue growth is balanced with our commitment to deliver the realisation of anticipated cost savings that will drive expected further enhancement of operating margin and cash flow in the second half of 2015 and beyond.”

Scientific Games completed its acquisition of provider WMS Industries for an approximate $1.5bn in 2013, before announcing the completion of a merger with provider Bally Technologies in November, worth an aggregate transaction value of $5.1bn.

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