Scientific Games reveals revenue growth in first quarter

Scientific Games said its commitment to creating “innovative” products was one of the main reasons behind a year-on-year increase in revenue and income during the three months to end of March that saw the company record revenues of $725.4 million (€664.5 million), an increase of 6% on the $682 million generated in the corresponding period last year.

Operating income hiked 75% to $88 million, as a result of revenue growth and lower cost structure, while adjusted earnings before interest, tax, depreciation and amortisation increased from $258.8 million in Q1 of 2016 to $286.6 million in the most recent three-month period.

However, Scientific Games did note that although net loss before income taxes improved from $111.5 million last year to $84.1 million in Q1 of this year, net loss expanded from $92.3 million to $100.8 million.

The company added that the increase in operating income was offset by a $29.7 million loss on extinguishment and modification of debt and a $35.9 million increase in income tax provision.

Kevin Sheehan, chief executive of Scientific Games, said: “Our continued, steady improvement in revenue and margin are a direct result of our focus on creating innovative products that drive demand and our commitment to operational excellence.

“This is a great start to the year, with all three of our business segments contributing to growth.

“We have a tremendous global team firmly focused on unlocking the power of our brands, strengthening our commitment to innovation, and executing a disciplined fiscal approach to enhance long-term shareholder value.

“We are building for our future.”

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