Scientific Games sees revenue up seven percent in Q3 results

Coinslot- Scientific -Games-increase sg
Novomatic Fortune Series LB
Share this article

Gaming, lottery and interactive segments drove up Q3 revenues for Scientific Games, according to its latest financial results.

 

The company saw revenue rise seven percent to $768.9m, up from $720m compared with the same period for last year.

Novomatic Fortune Series LB

Meanwhile, operating income in the three-month period rocketed 170 percent year-on-year from $33.5m to $90.6m, while net loss was slashed from $98.9m to $59.3m.

However, the company did note that net cash provided by operating activities dropped $41.4m to $109.5m, mainly due to unfavourable change in working capital accounts of $107.1m

“We are growing our businesses, expanding our product portfolio, improving our processes, enhancing our operating margin, paying down debt, and delivering positive results,” Kevin Sheehan, chief executive of Scientific Games, said.

Michael Quartieri, chief financial officer of Scientific Games, added: “Our improved performance is enabling us to strengthen our balance sheet and lower our cost of capital.

“We remain committed to our path of deleveraging, while capitalising on meaningful opportunities to grow our business.”

Earlier this year, Scientific Games agreed to acquire NYX Gaming Group Limited at a cost of around $631m.

This article originally appeared on betting-business.co


Share this article
Novomatic Fortune Series LB