Scientific Games in ‘strong position’

Scientific Games has a “strong liquidity position” said the company in an official release overnight.

It also notes that its has reduced its quarterly costs by $100m. SG has drawn $480m under its revolving credit facilities to give it maximum flexibility during the crisis.

The proceeds from these borrowings, plus cash in hand, permits it to strengthen the business when the crisis is over. The company said that SciPlay, in which it has an 82 per cent holding, also has strong liquidity.

Looking forward, the company now expects for the rest of the year that capital expenditure will be between $210m and $240m, compared with the $300 to $330m estimated.