Supplier News
US – Scientific Games achieves growth across all its segments
By Phil - 11 November 2019
Scientific Games saw its third quarter revenue rise four per cent to $855m, up from $821m, with growth achieved across every business segment.
Net income was $18m compared to a net loss of $352m in the prior year period. Net income was driven by growth in revenue and a $19m gain on remeasurement of Euro denominated debt versus a $4m loss in the prior year period. The prior year period included $339m in restructuring and other charges primarily related to the verdict in the Shuffle Tech legal matter.
Total new unit shipments in the US and Canada increased 10 per cent due to continued strong demand for the Twinstar J43 and momentum in the Twinstar Wave XL cabinet. US and Canadian replacements units increased 24 per cent excluding units from a strategic long-term relationship entered into in Oklahoma in the prior year. Openings and expansion units increased by over 600 units driven by strong sales into Illinois and a new opening in California.
Barry Cottle, President and Chief Executive Officer of Scientific Games, said: “Each of our business segments is growing on both the top and bottom line, enabling us to continue on our path to 5.5x net debt leverage by the end of 2020. We showcased our great games and products at G2E which demonstrated our industry leading position as a one-stop solution across platforms and key content. This positioning will allow us to enhance partner operations, grow in existing markets and win in emerging markets.”
Michael Quartieri, Chief Financial Officer of Scientific Games, added: “Our products grew the top-line, and operating leverage was driven by business improvements. We believe there are a number of avenues for further growth driven by share gains and new market opportunities. We remain firmly committed to maximise cash flows and deliver our balance sheet.”
