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NEWS 1 March 2018

Scientific Games revenue up 9% in Q4 2017

By Robert Simmons

Worldwide gaming goliath Scientific Games has announced its revenue rose year-on-year by 9% during the fourth quarter of 2017.

In its final financial report for the year, the company posted fourth quarter revenues of $823m, surpassing the $752.2m generated during the same period of 2016.

Drilling down into this figure, revenues from the company’s gaming segment increased 7% to $492.5m; revenue from the lottery segment of the business grew 9% to $217.2m while revenues from the interactive division grew the most year-on-year, rising 24% to $113.3m during Q4 2017.

Company operating income in the fourth quarter increased to $97.2m from an operating loss of $12.3m during Q4 2016, while net losses reduced from the $110.8m reported during Q4 2016 to a loss of $43.1m.

Attributable EBITDA grew by 11% year-on-year from a Q4 2016 high of $293.5m to a figure of $324.5m during the same period of 2017.

In a statement accompanying the results, Kevin Sheehan, CEO and President of Scientific Games said: “Our results in the fourth quarter 2017 reflect the improvements achieved in revenue, operating income and AEBITDA growth by each of our business segments.

"For 2018, we believe the Company is well positioned to continue to grow and build on the success attained in the past year."

In addition to announcing its Q4 results, Scientific Games have also announced its full-year 2017 financial figures, which show revenue rises of 7% year-on-year, giving the company 2017 revenues of $3,083.6m.

Operating incomes grew by almost 200% year-on-year during full year 2017, rising to $393.1m while net losses reduced from the $353.7m reported during 2016 to a figure of $242.3m during the full year 2017. Adjusted EBITDA rose 11% during 2017 to $1,224.9m.

Reflecting on the company’s good performance, Michael Quartieri, Chief Financial Officer of Scientific Games added: "Our improved performance and strong future prospects enabled us to successfully refinance a portion of our capital structure in 2017 and 2018 that significantly lowers our cost of capital and increases future cash flow.  

"We believe there is potential to achieve further improvements in 2018 and beyond, and we remain committed to our path of deleveraging and growing our business."

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