Continued growth in its SciPlay, lottery and digital segments drove Scientific Games to year-on-year revenue and EBITDA increases in 1Q21, while net loss fell to just US$9 million compared with US$155 million a year earlier.
The global gaming giant reported revenue of US$729 million for the March quarter, slightly up from US$725 million in 1Q20. The improvement was impeded by ongoing casino closures around the world, particularly in Europe, with gaming segment revenue down 23% year-on-year to US$244 million.
However, SciPlay enjoyed a 28% increase to US$151 million, lottery a 17% increase to US$248 million and digital a 12% increase to US$86 million.
Consolidated Adjusted EBITDA grew 35% to US$270 million on the back of double-digit growth across all segments.
“We delivered another strong quarter, enabling us to return to growth on both the top and bottom lines,” said Scientific Games President and CEO, Barry Cottle.
“Our new Gaming strategy and product roadmap continues to have success and our Lottery, SciPlay and Digital businesses delivered strong growth in the quarter. Our results demonstrate the strength of our content and franchises, engaging players on any platform they want to play.
“The executive team and our Board are continuing to work together and are making great progress as we look to optimize our portfolio, deleverage our balance sheet and capitalize on key areas of growth in order to unlock value for our shareholders.”
According to the group’s 1Q21 results announcement, available liquidity as of 31 March 2021 was US$1.3 billion with a US$150 million voluntary repayment on its revolving credit facility having been made during the quarter.
It has since been reported that Scientific Games is looking into an initial public offering in Australia and listing on the Australian Securities Exchange in a bid to raise funds and pay down debts totaling US$9.43 billion.
(Photo: Scientific Games)
