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NEWS 2 August 2019

No change in Q2 revenue at Scientific Games, gaming segment drops 9%

By Matthew Enderby

Scientific Games’ Q2 revenue saw no change year-on-year and remained at $845m.

The supplier said growth in its lottery, SciPlay and digital sector was offset by declining revenue for its gaming sector.

According to Scientific Games, this was due to fewer casino openings and system launches compared with last year, as well as lower replacement sales.

Consolidated adjusted EBITDA was down 1% at $335m and the company reported a net loss of $75m, a rise of 1150%.

Scientific Games said this steep loss was primarily driven by a $60m debt financing expense.

The supplier’s gaming segment generated revenue of $427m, a 9% decrease, with adjusted EBITDA of $215m, down 9%.

Revenue from its lottery segment rose 12% to $231m and adjusted EBITDA was $103m, up 4%.

From SciPlay, Scientific Games generated revenue of $118m, up 18%, while adjusted EBITDA increased 44% to $33m.

In its digital sector, the supplier saw revenue increase 3% to $69m, and adjusted EBITDA dropped 8% here to $12m.

Barry Cottle, President and CEO of Scientific Games, said: "The entire organisation is laser focused on strengthening our core business and capturing market share in emerging digital markets while making our business more efficient."

Michael Quartieri, CFO of Scientific Games, added: "This quarter, we paid down another $155m in debt, bringing our year-to-date total to $300 million, and the SciPlay IPO proceeds will continue to enable us to make substantial payments on our debt as we work toward our deleveraging goal."

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