Scientific Games narrow full year losses

Business News

Scientific Games said that it expects a narrower net loss and higher revenue in the fourth quarter.

For the fourth quarter, the company expects net loss in a range of approximately $40 million to $50 million, inclusive of a projected $28 million of restructuring and other charges, which primarily includes M&A costs associated with the NYX Gaming Group transaction that was completed on January 5, 2018. This compares to net loss of $111 million in the year-ago period.

Scientific Games currently expects consolidated fourth-quarter revenue to increase about 9 percent to a range of approximately $820 million to $825 million.

On average, analysts polled by Thomson Reuters expect the company to report loss of $0.26 per share on revenues of $802.58 million. Analysts’ estimates typically exclude special items.

For fiscal 2017, the company projects net loss in a range of approximately $238 million to $248 million, compared to the prior year’s net loss of $354 million. The company projects full-year revenue to grow about 7 percent to a range of approximately $3.081 billion to $3.086 billion.

The Street expects the company to report loss of $2.53 per share on revenues of $3.06 billion.

Separately, Scientific Games said it is set to bring a line-up of latest innovation, technology and a significant new digital offering to ICE Total Gaming, which will be held at ExCeL, London, from February 6 to 8.

The company’s Digital division will showcase NYX’s Open Gaming System or OGS, which allows licensees to leverage multi-vendor casino content from around the world, offering customers access to over 2,000 game titles. The Digital group will also showcase its proven Remote Game Server or RGS game library with recent launches, new portrait mode content and popular titles.

In addition, Scientific Games’ real-money gaming content library will be highlighted, including brands such as Rainbow Riches, Sword of Destiny, and Lock it Link, along with licensed gaming brands.

OpenBet will launch its data services and product modules, including the Managed Trading Service or MTS, an end-to-end solution designed to allow operators to choose their level of support, either by adding MTS to their existing sportsbook or taking the complete solution to focus on growing their business.

Scientific Games will also feature the James Bond Experience, with its Casino Royale game on the new Gamefield 2.0 platform.