Scientific Games reduces losses in first quarter

Finance News

Scientfic Games first quarter consolidated revenue was $729 million compared to $725 million, up 1% compared to the prior year period. Lottery, SciPlay and Digital businesses delivered double-digit revenue growth.

Digital revenue increased 12% and AEBITDA grew 26% from the prior year driven by iGaming with record results in the quarter led by our original content, our successful launch in Michigan and strength in Europe.

SciPlay revenue increased 28% and AEBITDA increased 32% from the prior year driven by continued growth in social casino games that outpaced the market and record payer conversion.

Barry Cottle, President and Chief Executive Officer of Scientific Games, said, “I am extremely pleased with our progress this quarter. Despite the continued challenges, our teams’ dedication and focus enabled us to build on our gains from last year.

We delivered another strong quarter, enabling us to return to growth on both the top and bottom lines. Our new Gaming strategy and product roadmap continues to have success and our Lottery, SciPlay and Digital businesses delivered strong growth in the quarter. Our results demonstrate the strength of our content and franchises, engaging players on any platform they want to play. The executive team and our Board are continuing to work together and are making great progress as we look to optimize our portfolio, deleverage our balance sheet and capitalize on key areas of growth in order to unlock value for our shareholders.”

Michael Eklund, Executive Vice President and Chief Financial Officer of Scientific Games, added, “The team has really stepped up to make meaningful progress on our key initiatives. We remain laser focused on delivering revenue and AEBITDA growth, and strengthening our balance sheet. Our continued focus on operational efficiency is enhancing our cash flows. We are executing at a high level and I could not be more excited about the path forward for Scientific Games.”