Scientific Games sees revenue rise and losses shorten in first half

Scientific Games has reported a year-on-year increase in revenue for the first six months of 2019, while the supplier was also able to halve its net loss for the period.

Revenue for the six months to June 30 amounted to $1.68bn (£1.38bn/€1.52bn), up from $1.66bn in the corresponding period last year.

The solutions giant noted an increase in services revenue, which climbed from $876m to $916m, but product sales slipped from $481m to $476m, and instant products from $300m to $290m.

The supplier complemented this revenue rise by cutting operating costs from $1.51bn to $1.43bn, with the cost of services down from $246m to $268, and depreciation, amortisation and impairments dipping from $361m to $335m.

Scientific did spend more in other areas, with the cost of product sales up from $226m to $218m and selling, general and administrative expenses rising from $346m to $360m.

However, overall spending was down in the period and, when coupled with the increase in revenue, Scientific was able to cut net loss from $208m to $99m. Net loss before tax was also down from $202m in the first half of 2018 to $88m this year.

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