SG gaming, lottery and interactive segments boosts Q3 revenue

Scientific Games saw its revenue rise year-on-year in the third quarter of 2017, increasing 7 percent to $768.9 million.

The company said growth was driven by revenue increases in each of the Gaming, Lottery and Interactive segments. Foreign exchange also had a $2.1 million favorable impact on revenue.

Operating income in the third quarter increased 170 percent to $90.6 million, reflecting revenue growth, a more profitable revenue mix, more effective business processes and lower depreciation and amortization.

While net loss narrowed in the quarter to $59.3 million reflecting an improvement in operating income and a decrease in interest expense. This was however, partially offset by a loss from financing transactions and a decrease in income tax benefit.

Attributable EBITDA increased 10 percent to $299.0 million.

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

Kevin Sheehan, chief executive officer of Scientific Games said: ““This quarter each business segment achieved revenue and AEBITDA growth, we showcased industry-altering innovation at NASPL and G2E, we were named ‘Industry Land-Based Supplier of the Year’ and announced our intent to acquire NYX, the industry leader in digital real-money gaming and sports betting.

“We are growing our businesses, expanding our product portfolio, improving our processes, enhancing our operating margin, paying down debt, and delivering positive results,” he added.