Published
OnlineCasinoLotteryFinancialSports Betting

Scientific Games revenue grows in 2018 but net loss up 45%

Scientific Games has reported a 9% increase in full-year revenue, to $3.36bn, during 2018.

scientificgamesshares

However, the supplier’s net loss grew 45% during the period, to $352.4m. This is explained by costs including that of restructuring and the $151.5m settlement it agreed in December, over a legal dispute with Shuffle Tech.

Subsidiary SG Digital more than trebled its adjusted EBITDA from $16m in 2017 to $54.1m in 2018, with revenue increasing almost four-fold, from $65.8m to $269.6m.

Revenue wise, although Scientific Games' total for the financial year is significantly larger, its rate of growth is on par with fellow suppliers NetEnt (9%, to $192m) and Konami’s Gaming & Systems division (8%, to $1.77bn).

Playtech, which also announced its results on Thursday, reported a 54% growth to $1.4bn – although this was heavily influenced by its purchase of Snaitech.

Scientific Games’ consolidated adjusted EBITDA rose 9% to $1.32bn in 2018, while net cash provided by operating activities fell from $507.1m to $346.1m, primarily reflective of the Shuffle Tech settlement.

In Q4, revenue grew 8% year-on-year to $885.7m, while net income was $206.8m, compared to a net loss of $43.1m in Q4 2017.

Consolidated adjusted EBITDA increased 6% to $343.5m; net cash provided by operating activities, though, fell from $118.1m to -$9.8m, another measure heavily impacted by the Shuffle Tech settlement.

Barry Cottle, Scientific Games CEO and President, said: "This is a very exciting time. We are building momentum and continuing to grow our business while at the same time operating more efficiently."


Casino News Sponsor
Premium+ Connections
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Metropolitan Gaming
Holland Casino
Nederlandse Loterij
Relax Gaming
Hoiana Resort & Golf
Follow Us

Facing Facts: Q1 2024 analysis from across the globe

Gambling Insider tracks the Q1 results of operators across t...

Taking Stock: A guide to sports betting operator and supplier prices

Gambling Insider tracks sports betting operator and supplier...

Tailor-made: The power of personalisation in the modern gaming industry

With insights from GR8 Tech, Greentube and the Oregon Lotter...

Sportradar and the Taiwan Sports Lottery: More offerings, greater efficiency

Danny Fok, VP of Strategic Projects at Sportradar, speaks al...