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Scientific Games Releases Fourth Quarter 2013 Financials

Betting industry giant Scientific Games has released its fourth quarter 2013 financial results, improving performance when compared to the same period last year.

Key financial indicators for the period were:

  • Revenues in Q4:2013 at $401.9 million (Q4:2012 $246.8 million);

  • FY revenues 2013 at $1090.9 million (FY 2012: $928.6 million);

  • Operating loss of $67.5 million in Q4:2013 vs. a positive $10.1 million in same quarter 2012;

  • Full year operating loss of $18.3 million vs. a positive $62.9 million in 2012;

  • Net loss of $500,000 vs. loss of $12.4 million in the same quarter in 2012;

  • Full year net loss of $25.6 million vs. net loss of $43.9 million in 2012.

  • EBITDA for the quarter at $130.5 million and for the year $382.5 million vs. 2012 Q4 of $89.9 million and FY 2012 of $337.8 million.

Corporate highlights were:

  • Interactive products and services revenue increased $27 million principally reflecting $25.6 million from WMS following the acquisition;

  • Social gaming revenue is reported on a gross revenue basis before platform fees reflecting a change in the payment settlement process by Facebook, and this change to gross reporting represented $8.4 million of the revenue in the 2013 full-quarter period.

  • Interactive gaming products and services generated revenues of $28.4 million in Q4 2013 (Q4 2012: $1.4 million)

  • Average daily users climbed to 1.2 million, and MAUs were up at 4.2 million, with average revenue per day per user of 26 cents.

Commenting on his firm's performance Scientific Games CEO David L. Kennedy said, "Fourth quarter revenues reflect solid growth in our lottery business and a partial quarter of WMS results. We are focused on growing our customers' revenues and capturing new growth opportunities by accelerating development of innovative content and technology and continuously improving our core competencies."

"At the same time, we are focused on achieving the targeted cost synergies related to the acquisition of WMS and driving profit margin and cash flow improvements across all of our businesses."

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