Scientific Games posts stable Q1 opening to overcome Gaming unit headwinds Share
May 14, 2021
Scientific Games Corporation (SGC) has reported a stable corporate trading and performance in the first quarter of 2021 as COVID-19 pandemic headwinds continue to impact its business lines.
Publishing its Q1 trading update, SGC registered a 1% increase in group revenues to $729 million (Q12020: $725m) in line with Nasdaq firm’s trading objectives.
The group’s
SciPlay brand and Lottery division experienced the most significant revenue increases at 28% and 17% respectively, with lottery generating the largest section of revenue at $248 million.
Meanwhile, SciPlay saw its earnings increase from $118 million to $151 million whilst Digital revenue experienced a 12% improvement from $77 million to $86 million.
SciPlay Reports Results for the First Quarter 2021
Strong Revenue Growth Up 28% Outperforms the Social Casino Market
Increased Net Income 22% and AEBITDA 32% Reflecting Strong Operating Leverage
Growth was Broad Based with Strong Performance Across the Portfolio
Achieved Payer Conversion Record of 8.1%
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LAS VEGAS, May 10, 2021 /PRNewswire/ SciPlay Corporation (NASDAQ: SCPL) ( SciPlay or the Company ) today reported results for the first quarter ended March 31, 2021.
Josh Wilson,
Chief Executive Officer of SciPlay, said, Our teams continued to execute at a high level this quarter delivering strong top and bottom line results with broad based strength across the portfolio. Our payer focus and live-ops strategy delivered sequential growth in key monetization metrics and we achieved record payer conversion for the 5th consecutive quarter. The soft launch of
Scientific Games reviews ASX options to trim debt Share
Australian Securities Exchange (ASX).
The Australian Financial Review (AFR) has reported that SGC has recruited Sydney-based investment bank Jarden Australia to draft the company’s pathway towards listing on the ASX.
An ASX-listing is detailed as one option to address SGC’s long-term debt reduction, which currently registers at $9.5 billion – more than $4 billion over the firm’s market capitalisation of $5.40 billion.
SGC’s corporate debt ballooned to $8.5 billion in 2014 following the firm’s leveraged acquisition of casino slot and games manufacturer
Bally Technologies for $5.1 billion.
The company’s debt-load further increased in 2018, as SGC undertook back-to-back acquisitions of
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