Scientific Games Improves Financials in Fourth Quarter

This story was published more than 4 years ago.

Betting software group Scientific Games has published their fourth quarter 2019 financials, revealing that the company improved their financial position buy cutting the net loss result during the period.

Key financial indicators for the period ending December 31st, 2019 were:

  • Revenue down 2.6% to $863 million
  • Gaming revenues down 5.3% to $445 million
  • Lottery revenue up slightly to $233 million
  • Digital revenue up to $72 million
  • Social gaming revenues down 0.9% to $113 million
  • Operating expenses up 25.8% to $711 million, although this was partially influenced by restructuring
  • Operating income down 52.7% to $152 million
  • Other financial expenses of $187 million
  • Net loss of $35 million before taxes
  • Income taxes of $2 million
  • Post-tax net loss of $43 million

Commenting on the financials SG CFO Michael Quartieri said, "We reduced our net debt by over $460 million in 2019, while successfully completing two refinancing transactions that will significantly reduce our cash interest costs going forward and extended our maturities. Our overarching commitment remains delevering through organic growth, new market opportunities, and driving further enhancements to our free cash flow."

About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.