Scientific Games takes $198m hit through virus

There was a net loss of $198m for giant gaming company SG in the second quarter of this year to June 30, it has reported.

The impact of the Covid-19 pandemic is blamed for the results, closing casino operations and lowering lottery ticket sales. But the SciPlay and digital businesses grew.

Net cash from its operating activities was $52m compared with $95m.

Barry Cottle, president and CEO, said: “We navigated the current environment with strong cost containment and cash management which allowed us to deliver better than expected cashflow for the quarter.” 

Cottle said that the diversity of the businesses and its position at the forefront of digital gaming, were critical in allowing the company to get through the worst of the situation.

Revenue for the three months was $539m, down from $845m and the net loss $198m compared with $75m. Gaming operations revenue went down from $427m to $91m, lotteries down from $231m to $209, but SciPlay rose from $118m to $166m and digital from $69m to $73m.