Scientific Games Posts Revenue Increase in First Half

Betting software group Scientific Games has posted their first half 2019 financials, noting that revenues were up and losses were down.

Financial indicators for the first half ending June 30th, 2019 were:

• Revenues of $1.68 billion, up slightly from the year prior
• Service revenues of $916 million, up from $876 million last year
• Product sales down from $481 million to $476 million
• Operating costs down to $1.43 billion
• Cost of services down to $246 million
• Depreciation, amortization, and impairments down to $335 million from $361 million last year
• Net loss down from $208 million last year to $99 million
• Net loss before tax was also down from $202 million to $88 million this year

Commenting on the results, SG CEO Barry Cottle said, "We are pleased with the growth we are continuing to see across Lottery, Digital, and SciPlay while also stabilizing gaming operations driven by the successful launches of several new games. The second quarter really highlights the diversity of our business and the many avenues we have to generate revenue across the globe. The entire organization is laser-focused on strengthening our core business and capturing market share in emerging digital markets while making our business more efficient. These key focus areas will allow us to deliver the greatest returns for our stakeholders, set ourselves up for profitable growth, and generate significant cash flow to continue on our deleveraging path."