Interactive
US – SciPlay announces strong Q3 results
By William - 11 November 2019
SciPlay, the developer and publisher of digital games on mobile and web platforms, has announced their third quarter results ending September 30th.
SciPlay have reported an 11% revenue growth in the quarter to €105 million, 4% greater than the market growth rate. Mobile revenue was up 18% to €89 million, reflecting the popularity of Sciplay’s core games, including Jackpot Party Casino, Bingo Showdown, 88 Fortunes and Monopoly Slots.
The company is now expecting revenue in the range of €426 million to €431 million for the full year. SciPlay announced a net income margin of 21.5%, up from €8.3 million. AEBITDA was €29 million, an increase of 35%, and AEBITDA margin was 27.5%, an increase of 500 bps.
Net cash provided by operating activities was €30.7 million, reflecting strong results and including a €2.7 million payment relating to contingent acquisition consideration. Cash and cash equivalents increased €28 million to €74 million from the second quarter of 2019.
Josh Wilson, Chief Executive Officer of SciPlay, commented on the results: “I’m pleased with the team’s hard work and passion that led to above market revenue growth of 11% in the third quarter. We have a number of exciting game updates that will lead to continued growth in our evergreen franchises as we explore opportunities in new geographies, new games and new genres. These will enable us to execute on our mission to become the #1 casual mobile gaming company in the world.”
Payer conversion rates remained strong at 5.8%, reflecting SciPlay’s continued focus on live operations to drive increased player interaction. Jackpot Party moved into the Top 20 highest overall Mobile Grossing Games and into the Top 5 for the Social Casino Games Category.
Mike Cody, Chief Financial Officer of SciPlay, added: “Our strong portfolio of games drove growth in revenue, net income, AEBITDA and a significant increase in cash flows from operations in the third quarter. We see a number of avenues to grow the business from increased player interaction in our existing games as well as potential new market opportunities.”
