Scientific Games/Bally integration ahead of schedule

The integration between Scientific Games and Bally is ahead of schedule, president and CEO Gavin Isaacs said, presenting the company’s first full quarter results as a merged group.

“Having already implemented actions to achieve approximately $90 million in Bally-related annualized savings through March 31, 2015, we expect to achieve our goal to implement initiatives to generate approximately 80 percent of the anticipated $235 million of annual cost savings and another $30 million of WMS-related annual cost savings by the end of 2015,” he said.

“We expect our debt reduction to accelerate in the second half of 2015 and beyond.”

The combined group had Q1 revenue of $658.7 million and a net loss of $86.4 million. Attributable EBITDA was $252.1 million.

 

In Q1, 2014, without Bally, Scientific Games had revenue of $388.1 million with a net loss of $45 million. Attributable EBITDA was $122.8 million.