Sciplay reports better-than-expected earnings on strong trading results

Business News

Sciplay has reported second quarter revenue of $165.6 million. Mobile revenue of $144.3 million was up 47%. Net cash provided by operating activities was $52.0 million, an increase of $34.0 million reflecting strong results.

Cash and cash equivalents increased $45.5 million year to date to $156.1 million, which included the impact of the Come2Play acquisition and our annual Tax Receivable Agreement (TRA) and related payments. Available liquidity at quarter end was $306.1 million.

The strength across our games portfolio was enabled by our recognizable brands and dedicated team that seamlessly maintained the player experience as volumes increased.

Josh Wilson, Chief Executive Officer of SciPlay, said, “We are extremely pleased with the results we delivered in the second quarter. The strong performance was evidenced throughout our portfolio driven by successful game updates coupled with the “stay at home” dynamic. In addition to our outstanding results, we also acquired casual game developer, Come2Play during the quarter, which adds to our proven library of IP and provides another engine for growth. The acquisition immediately expands our market opportunity through the addition of a new genre of evergreen casual games and brings an incredibly talented team to our portfolio.”

Mike Cody, Chief Financial Officer of SciPlay, added, “We achieved record revenue and strong net income and AEBITDA growth this quarter, which highlights the operating strength of our business. We continue to be extremely well positioned to explore opportunities to drive return on capital organically and externally. Our overarching focus is to provide great games for our customers that will lead to success for all our stakeholders.”