Richer revenue mix boosts 2017 performance for Scientific Games

Richer revenue mix boosts 2017 performance for Scientific Games

Monday, March 5, 2018 Posted by Luke Massey
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The Group increased operating income to $393 million in 2017

Publishing its full-year 2017 results, Nasdaq-listed industry technology provider Scientific Games Corporation (SGC) outlined a solid growth across its core KPI metrics and corporate assets, as the company forecasts a transformative 2018.

In 2017, a refinanced SGC group was able to expand its global commercial pipeline and add new services to develop a ‘richer revenue mix’, while strong commercial momentum saw the group break the $3 billion mark in group revenues for the year.

Group operating income increased to $393 million from 2016’s $130 million. Closing 2017 accounts, SGC narrowed 2017 corporate losses by over 30% to $242.3 million (FY2016: $353 million).

In its trading statement, SGC detailed that its 2017 improvements were ‘partially offset by a $38 million loss on debt financing transactions’ and a $139 million decline in income tax provision, related to a valuation set against ‘certain domestic deferred tax assets’.

Kevin Sheehan, CEO and President of Scientific Games, commented: “Our results reflect the improvements achieved in revenue, operating income and AEBITDA growth by each of our business segments. For 2018, we believe the company is well positioned to continue to grow and build on the success attained in the past year.”

Totally Gaming says: During Q1 2018, SGC moved to expand its debt capacity by placing a $/€ debt notes sale to private investors. This marked the start of a critical 2018 for the company, in which it will move to integrate the digital assets of NYX Gaming Group, having completed its $630 million acquisition of the Toronto TSX firm this January.

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