Scientific Game

Scientific Games sees all segments grow in 4Q17

Thursday, 01 March 2018 05:54
Visit us

Scientific Games Corporation saw its revenue increase 9% in the three months to 31 December 2017 to US$752.2 million, including growth in all three business segments.

The group’s positive results were led by the gaming segment, where revenue increased 7% to a quarterly record of US$492.5 million thanks to the global shipments of 10,249 new gaming machines. Lottery segment revenue rose 9% to US$217.2 million while the interactive segment enjoyed 24% growth to US$113.3 million.

Operating income increased to US$97.2 million in 4Q17 from an operating loss of US$12.3 million a year ago, “reflecting revenue growth, a more profitable revenue mix, more effective business processes and lower depreciation and amortization,” the company said. Net loss also declined to US$43.1 million from US$110.8 million the fourth quarter of 2016.

Attributable EBITDA increased 11% to US$324.5 million from US$293.5 million a year ago.

The 4Q17 results boosted Scientific Games’ full year earnings, where revenue increased 7% year-on-year to US$3.08 billion. FY17 saw operating income soar to US$393.1 million compared to US$130.6 million in the prior year, with net loss of US$242.3 million compared with a net loss of $353.7 million a year ago.

Attributable EBITDA grew 11% to US$1.22 billion.

“Our results in the fourth quarter 2017 reflect the improvements achieved in revenue, operating income and AEBITDA growth by each of our business segments,” said Scientific Games CEO and President Kevin Sheehan.For 2018, we believe the company is well positioned to continue to grow and build on the success attained in the past year.”

Michael Quartieri, Chief Financial Officer of Scientific Games, added, “Our improved performance and strong future prospects enabled us to successfully refinance a portion of our capital structure in 2017 and 2018 that significantly lowers our cost of capital and increases future cash flow.  

“We believe there is potential to achieve further improvements in 2018 and beyond, and we remain committed to our path of deleveraging and growing our business.”


What's new

Changing of the guard: Macau’s Galaxy buys 5.3 million Wynn Resorts shares as Steve Wynn agrees to sell entire stake

Changing of the guard: Macau’s Galaxy buys 5.3 million Wynn Resorts shares as Steve Wynn agrees to sell entire stake By Ben Blaschke and Andrew W Scott Galaxy Entertainment Group (GEG) has emerged as a shock investor in Wynn Resorts, with the two integrated resort giants announcing today that Galaxy has agreed to purchase 5.3 million primary Wynn Resorts shares for a total of US$927.5 million. Wynn also announce... Friday, 23 March 2018 08:31

The Star Gold Coast opens luxury hotel The Darling

The Star Gold Coast opens luxury hotel The Darling Star Entertainment Group has opened its new luxury suite hotel, The Darling, at The Star Gold Coast – part of the company’s Australia-wide property makeover. The 17-storey hotel is considered the jewel in crown of The Star Gold Coast’s AU$850 million redevelopment, featuring seven suites on e... Friday, 23 March 2018 06:44

Korea’s Jeju Shinhwa World holds Grand Opening

Korea’s Jeju Shinhwa World holds Grand Opening Korea’s Jeju Shinhwa World celebrated its Grand Opening on Thursday, described as “the first and only iconic world-class integrated leisure and entertainment resort in Jeju Island, Korea.” The ceremony, hosted by the Chairman of Jeju Shinhwa World owner and operator Landing International, Dr ... Friday, 23 March 2018 06:21

Revenue, profits surge as Summit Ascent avoids Russian tax hike

Revenue, profits surge as Summit Ascent avoids Russian tax hike Hong Kong-listed casino investor Summit Ascent international has announced a 46% increase in revenue from its Russian integrated resort, Tigre de Cristal, in Vladivostok in 2017, due primarily to a 33% surge in rolling chip turnover. Group wide revenue increased to HK$470.8 million for the year, up... Friday, 23 March 2018 05:57

Current Issue

MGM “all-in” on Cotai

MGM “all-in” on Cotai Almost five years to the day since MGM first broke ground on its second Macau integrated resort, MGM Cotai finally opened its doors to the public on 13 February with the US$3.4 billion investment pinning its future on the premium mass market and an array of innovative features. By Ben Blaschke “... Tuesday, 27 February 2018 14:50

European vacation

European vacation Novomatic is targeting both the US and Asian markets with its recent acquisition of a 52% stake in Australian slot machine developer Ainsworth Game Technology.By Ben Blaschke WHEN Austrian gaming giant Novomatic Group confirmed the completion of its AU$500 million purchase of a 52.2% stake in Austra... Tuesday, 27 February 2018 14:48

Problem solving

Problem solving Inside Asian Gaming speaks with Davis Fong, Associate Professor in International Integrated Resort Management and Director of Institute for the Study of Commercial Gaming at the University of Macau’s Faculty of Business Administration, about the extent of gambling disorders in the Asian gaming hub... Tuesday, 27 February 2018 14:44

Gaming and the nine intelligences

Gaming and the nine intelligences Sudhir Kale explores the nine types of intelligence as defined by Harvard psychologist Howard Gardner and how they apply to the gaming industry.  DURING my decades of involvement in the gaming industry, I have had the pleasure of knowing many senior executives from all over the world. They are all... Tuesday, 27 February 2018 14:40