WMS Fourth Quarter 2012 Financials Shows Weaker Results

U.S. based gambling giant WMS has released its fiscal report for the fourth quarter of 2012, noting lower revenues and incomes.

Key financial indicators for the period ending December 31st, 2012 were:

• Revenues of $157.5 million, down 2.9% for the same period in 2011, which fell below the forecast of $166.5 million

• Net income of $4.3 million with an after tax impact of $2 million and a pre-tax expense of $2.5 million due to costs accumulated in its merger with Scientific Games

• Year end revenues of $162.2 million

Operational highlights for the quarter were:

• Gaming operational revenues increased $8 million on a year-over-year basis and $1.6 million on a quarterly sequential basis to $72.7 million, primarily reflecting continued interactive products and services revenue growth. But product sales revenue fell 15% to $84.8 million.

• During the quarter, Jackpot Party Social Casino, the fourth most-popular casino game on Facebook as measured by number of daily active users, generated continued revenue growth, averaging more than $100,000 a day in revenues after the Facebook payment processing fee, primarily due to higher monetization rates and higher average daily payments by paying players. The iOS version of the app quickly climbed into the top ten largest grossing casino game apps on the iPhone from Apple.

• In the December quarter, WMS agreed to make its library of slot gaming content available to the British Columbia Lottery Corporation for its online casino.

Commenting on his company's performance WMS Chairman and CEO Brian R. Gamache said: "With the revenue growth achieved to date for interactive products and services, our investment in this attractive new product distribution channel is proving to be very prudent. The early success of Jackpot Party Social Casino contributed to the $12 million in year-over-year revenue growth from interactive products and services."

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