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Financial

Scientific Games revenue steadily grows in Q2

Scientific Games reported a 10% year-on-year revenue increase for the second quarter of 2018, to $844.7m

scientificgamesrevenue

However, gaming and lottery revenue saw a $10m negative impact after Scientific Games implemented a “new revenue recognition accounting.”

With the $10m impact, gaming revenue was $470m, up $13.5m, and lottery revenue was $207m, up 2%..

The company also reported net loss of $5.8m, a significant decrease from $39.1m last year.

Consolidated EBITDA saw an 8% increase to $340.4m.

Digital revenue also saw an increase,to $67.2m with $50.6m coming in from the newly acquired NYX platform.

Barry Cottle, CEO and President of Scientific Games said: “I'm very pleased with our accomplishments this quarter and particularly proud that all four businesses continued to experience growth this quarter and are accelerating our financial momentum.

Michael Quartieri, CFO of Scientific Games added: "This quarter marks our eleventh consecutive quarter of year over year growth in revenue and AEBITDA. We have clear momentum across all of our global businesses. The improvement in our operating results, along with lower interest costs, provides us with a clear path of increasing cash flows, deleveraging, and strengthening our balance sheet.”

 

 

 

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