• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Thursday 5 June 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Scientific Games defying expectations through COVID: Union Gaming

Newsdesk by Newsdesk
Thu 30 Jul 2020 at 06:11
Gaming opportunities down but Scientific Games holds steady in 2Q19 on growth in international, online segments
27
SHARES
677
VIEWS
Print Friendly, PDF & Email

Shares in global gaming giant Scientific Games are “positioned to work well” in the second half of the year following the company’s surprisingly strong 2Q20 financial results last week.

According to a note from Union Gaming analyst John DeCree, Scientific Games – which saw its stocks plummet during the early days of the crisis from a high of US$30.24 on 12 February to just US$4.71 by March – was the “canary in the coal mine for the broader COVID-19 sell-off across the gaming industry as investors fled the most levered names first.”

However, dire early predictions have proven to be unfounded with the company’s diverse portfolio providing strong upside in the most recent quarter, with Scientific Games reporting positive Adjusted EBITDA of US$121 million and Free Cash Flow of US$5 million.

DeCree points to a range of factors in the Scientific Games recovery story, including the durability of lottery which declined only 5.8% year-on-year in 2Q20 but has already seen a 20% upward trend over the past month.

Online gaming arm SciPlay has also countered the effects of COVID-19, providing 41% year-on-year revenue growth in Q2, while its land-based slot machine business has recovered faster than expected.

“Coin-in at reopened casinos is trending flat to up year-on-year,” DeCree said.

“While there is some pent-up demand and stimulus dollars driving this trend, the outlook for the slot segment is much less dire than initially feared. In fact, with most casino amenities, F&B outlets and table games currently closed or constrained, casino operators are relying heavily on slot machines.

“One could argue the importance and ROI of the slot machine is being proven once again.”

Union Gaming has subsequently raised its price target for Scientific Games from US$20 to US$27. Shares were at US$18.53 at market close today, up 7.48%.

“We expect current trends to continue improving barring another large scale shutdown,” De Cree said.

RelatedPosts

China-owned contractor of Chow Tai Fook’s Baha Mar ordered to pay US$1.6 billion to original owner for “many acts of fraud”

New York appellate court dismisses China Construction America’s appeal in US$1.6 billion Baha Mar fraud case

Wed 9 Apr 2025 at 05:59
RWLV names former MGM executive Greg Shulman as EVP of International Marketing

RWLV names former MGM executive Greg Shulman as EVP of International Marketing

Wed 9 Apr 2025 at 05:35
Analysts puzzled as combined market cap of Macau concessionaires falls back to 2022 COVID levels

Macau’s Hong Kong-listed gaming stocks all fall by more than 10% Monday on impact of US tariffs

Mon 7 Apr 2025 at 18:55
AGEM Index falls by 7.4% in December on Aristocrat, Light & Wonder stock price declines

AGEM Index down 9.3% in March as all 12 member firms suffer stock price declines

Fri 4 Apr 2025 at 02:46
Load More
Tags: John DeCreelotteryNorth AmericaScientific GamesSciPlayshare priceslot machinesUnion Gaming
Share11Share2
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – The real reason Philippines casino revenues are down

Editorial – The real reason Philippines casino revenues are down

by Ben Blaschke
Sun 30 Mar 2025 at 23:04

After enjoying a post-COVID surge in gaming revenues at its licensed casinos, the Philippines has hit a rocky patch. In...

Inside Thai IRs

Inside Thai IRs

by Andrew W Scott and Ben Blaschke
Sun 30 Mar 2025 at 22:59

No time to read this whole article? Here are the bullet points! With passage of Thailand’s Entertainment Complex Bill through...

Resorts World Las Vegas – Lighting up the north

Resorts World Las Vegas – Lighting up the north

by Andrew W Scott and Ben Blaschke
Sun 30 Mar 2025 at 22:52

Inside Asian Gaming recently visited Genting’s American icon Resorts World Las Vegas to take a closer look at a property...

A baccarat perspective

A baccarat perspective

by Ryan Hong-Wai Ho
Sun 30 Mar 2025 at 22:37

In the first of a two-part series, Ryan Ho explores how gaming innovations and market changes have shaped the prominence...

Evolution Asia
Aristocrat
GLI
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

Bally’s Chairman Soo Kim talks after deal sealed to acquire Australia’s Star Entertainment

Bally’s Chairman Soo Kim talks after deal sealed to acquire Australia’s Star Entertainment

by Newsdesk
Wed 9 Apr 2025 at 06:16

Star Entertainment Group confirmed Monday it had entered into a binding term sheet with US casino operator Bally’s Corp to take control of the company as part of a US$300 million (US$180 million) deal. The term sheet, comprising a multi-tranche...

China-owned contractor of Chow Tai Fook’s Baha Mar ordered to pay US$1.6 billion to original owner for “many acts of fraud”

New York appellate court dismisses China Construction America’s appeal in US$1.6 billion Baha Mar fraud case

by Ben Blaschke
Wed 9 Apr 2025 at 05:59

A New York court has dismissed an appeal by China Construction America, Inc (CCA) against a Supreme Court ruling in October requiring it to pay US$1.6 billion to the original owner of Bahamas casino resort Baha Mar for committing “many acts...

Trade union warns massively increased casino pokies tax in NSW will cost jobs

Pub baron Bruce Mathieson agrees additional AU$100 million Star investment, reduces Bally’s contribution to AU$200 million

by Ben Blaschke
Wed 9 Apr 2025 at 05:40

Star Entertainment Group’s largest individual shareholder Investment Holdings Pty Ltd has entered into a binding term sheet with US casino operator Bally’s Corp that will see it subscribe for AU$100 million (US$60 million) in convertible bonds, reducing in the process...

RWLV names former MGM executive Greg Shulman as EVP of International Marketing

RWLV names former MGM executive Greg Shulman as EVP of International Marketing

by Newsdesk
Wed 9 Apr 2025 at 05:35

Genting Group’s US flagship Resorts World Las Vegas (RWLV) has announced the appointment of casino industry veteran Greg Shulman as Executive Vice President of International Marketing. Continuing the property’s recent management overhaul, RWLV said Shulman will lead its international casino...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • English