Scientific Games pleased with Q3 results

News on 2 Nov 2017

Scientific Games Corporation (SGC) reported third quarter results Wednesday,  detailing a 7 percent rise in group revenue driven primarily by its Gaming, Lottery and Interactive Businesses and a favorable foreign exchange impact of $2.1 million.

Key performance indicators for the third quarter period ended September 30, 2017 include:

Operating income up 170 percent to $90.6 million (Q3/2016: $33.5 million)

Net loss declined to $59.3 million from $98.9 million in the prior-year period, reflecting an improvement in operating income and a $16.5 million decrease in interest expense, partially offset by an $8.4 million loss from financing transactions and a $15.5 million decrease in income tax benefit.

Attributable EBITDA (“AEBITDA”) increased 10 percent to $299.0 million (Q3/2016: $271.6 million).

AEBITDA margin improved to 38.9 percent (Q3/2016: 37.7 percent).

Net cash from operating activities decreased $41.4 million to $109.5 million from a year ago, primarily attributed to an unfavorable change in working capital accounts of $107.1 million.

Commenting on SGC’s agreement to acquire NYX Gaming Group for a total consideration of $631 million, once complete the company expects to be ideally positioned to capitalize on the growing global online gaming and sports betting markets.

“We are growing our businesses, expanding our product portfolio, improving our processes, enhancing our operating margin, paying down debt, and delivering positive results,” Kevin Sheehan, chief executive officer of Scientific Games, said.

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