Lottery and sports betting sale helps SG

A 25 per cent rise, year over year, is reported by Scientific Games in its third quarter results.

The group showed revenue of $539m and combined revenue including discontinued operations of $824m, up 18 per cent. The report also showed accelerating strategy to quickly delevering with the sale of lottery and sports betting for $7m.

Said Barry Cottle, CEO: “In just the last few months we have made tremendous progress on our strategic pillars, delivering on our promises and advancing our vision to be the leading cross-platform global game company.” He said that the sale of the lottery and sports betting businesses had helped to deleverthe balance sheet.”

CFO Connie James added that the sale had put SG on “a clearly defined path to materially delever while providing the ability to invest.”

Revenue from combined continued and discontinued operations totalled $824m against $698m and net income was $187m compared with a loss of $111m .