Scientific Games upbeat despite loss

Scientific Games is upbeat despite a heavy loss in its financial results for the year 2020.

The group saw a loss of $37m in 2019 turn into a loss of $84m in the final quarter, badly impacted by the pandemic. Revenues were $762m compared with $863m.

Said CEO Michael Eklund: “We continued to execute, having driven cash flow improvement in the fourth quarter, despite a number of Covid-19 related restrictions to our land-based business. The focus remains on disciplined cost and balance sheet management.

“I am confident in the opportunities for operational and business process improvements that will drive increased cash flow conversion and deleveraging, leading to increased stakeholder value.”

The full year saw revenue of $2.7bn compared with $3.4bn and a net loss of $548m compared with $118m.