Scientific Games Posts Loss in Third Quarter

U.S. gaming firm Scientific Games has posted their third quarter financial results, revealing that they took a loss of $351.6 million for the period.

Key financial indicators for the third quarter ending September 30th, 2018 were:

  • A loss of $351.6 million, due to a $338.7 million restructuring because of a $309.6 million court verdict in a case against Shuffle Tech International
  • Revenues up 6.8% to $821 million, with $46.5 million contributed from new acquisition NYX
  • EBITDA up 8.9% to $325.7 million
  • Consolidated attributable EBITDA up 5.1% to $232.5 million
  • Lottery revenue up 1.5% to $206.8 million
  • Social revenues up 10.5% to $105.1 million
  • Net loss per share of $3.85

Commenting on the results company CEO Barry Cottle said, "We are very pleased with the growth we are seeing across our businesses as we continue to lead our industry into the future. Our investments in digital, sports betting, and new games are producing the most innovative and engaging products in the market and we are excited about the customer response here in the U.S. and around the world. For our rapidly growing social business, an IPO would give us greater flexibility to pursue growth for the business and drive value for stakeholders. We remain focused on delivering for our customers and running our business efficiently and effectively to drive revenue, reduce costs and continue to build momentum across the Company."

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bgsharpe
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15 November 2018 - 10:37pm
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Despite the huge loss they declared it's obvious that Scientific business generally keeps growing and probably they didn't have to worry too much about the current financial situation with the company..it's apparently because of that lost case in the court.

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