Global gaming giant Scientific Games recorded a 25% increase in revenue from continuing operations to US$539 million in 3Q21, primarily attributable to momentum in the North American market.
According to the company’s September quarter results release, the Gaming Ops, Game Sales and Tables business all recorded strong gains compared with 3Q20, while revenues in Scientific Games’ iGaming business soared by 109% in the US, lifting market share to 27%.
Gaming revenue grew 47% year-on-year to US$339 million and iGaming by 3% to US$53 million although SciPlay fell by 4% to US$147 million due to a “temporary event” related to one of its social casinos. Scientific Games said it expects SciPlay to return to both year-on-year and sequential growth in the fourth quarter.
The company’s Q3 revenue result did not incorporate contributions from its lottery and sports betting businesses, which were both recently sold for a combined price of more than US$7 billion. Including discontinued operations, revenue was up 18% year-on-year to US$824 million.
Net income for the period was US$100 million, reversing a US$187 million loss in 3Q20, while Adjusted EBITDA from continuing operations was US$203 million.
“In just the last few months we have made tremendous progress on our strategic pillars, delivering on our promises and rapidly advancing our vision to be the leading cross-platform global game company,” said Scientific Games President and CEO, Barry Cottle.
“With the sale of our Lottery and Sports Betting businesses we are transforming our company, raising US$7 billion which will significantly de-lever the balance sheet and enable us to invest for growth. With our streamlined organization we have all of the pieces in place and are singularly focused on building games fully cross-platform.
“Operationally we also made great strides in the quarter, further cementing the turnaround at our Gaming business, strengthening our leadership position in iGaming and making great progress expanding in Casual at SciPlay. I want to thank all of our teams around the world for their hard work and commitment and for what they have enabled us to accomplish.”
RelatedPosts
