Scientific Games’ Q3 results hit by Covid-19

Home » Scientific Games’ Q3 results hit by Covid-19

Scientific Games has reported results for the third quarter that were adversely impacted by the Covid-19 disruptions, primarily in the gaming business unit.

Third quarter revenue was $698m compared to $855m in the prior year period and an increase from $539m in the second quarter. The company’s gaming revenue was negatively impacted by the Covid-19 disruptions that have resulted in continued reduced operations of casino operators globally.

Its lottery, SciPlay and digital businesses grew in the quarter, highlighting the strategic investments the commpany has made in the digital space and the breadth of its portfolio.

Net loss was $111m compared to net income of $18m in the prior year period, due to lower revenue and the effects of Covid-19. Results were also impacted by a $24m loss on remeasurement of debt compared to a $19m gain in the prior year period.

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Barry Cottle, President and CEO of Scientific Games, said: “As a result of our team’s focus on our strategy, our diverse portfolio and our commitment to cost management, we delivered strong cash flow in the third quarter.

“I really am excited around all the great games, products and solutions we have to help our partners navigate the current environment and provide innovative solutions for the future.

“I’d also like to welcome the proven industry leaders to our board who will augment our focus on de-levering our balance sheet and will help the company prudently and thoughtfully shape our corporate strategy.”

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