SBC News Voice of the Sports Betting Industry
Publishing its Q1 2016 results Nasdaq-listed Scientific Games Corporation (SGC) has published its ‘sixth consecutive quarter of growth’, driven by strong machine gaming sales and its interactive division.
Q1 2017 revenues rose 6% to $725 million, up from $682 million a year ago. Revenue growth was supported by a 24% increase in global unit shipments and a 33% increase in interactive revenues.
A strong Q1 revenue performance would support the firm’s operating income, which increased 75% to $88 million (Q1 2016: $50.3 million).
The Las Vegas company continues to pay installments on its reduced corporate debt of approximately $8 billion. The firm would report a period Net loss of $100 million compared with $92.3 million in the prior-year period, as the increase in operating income was offset by a $29.7 million loss on extinguishment and modification of debt and a $35.9 million increase in the income tax provision.
Kevin Sheehan, Chief Executive Officer of Scientific Games commented on company performance
“Our continued steady improvement in revenue and margin are a direct result of our focus on creating innovative products that drive demand and our commitment to operational excellence,”
“This is a great start to the year, with all three of our business segments contributing to growth. We have a tremendous global team firmly focused on unlocking the power of our brands, strengthening our commitment to innovation, and executing a disciplined fiscal approach to enhance long-term shareholder value. We are building for our future.”
