Scientific Games narrows losses ahead of 2018 NYX integration

Scientific Games narrows losses ahead of 2018 NYX integration

Thursday, January 25, 2018 Posted by Luke Massey
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SGC is embarking on a period of digital transformation to open 2018

Scientific Games Corporation (SGC) expects to deliver top-line revenue growth for the full-year 2017, combined with a narrowing of its corporate losses.

Publishing a ‘preliminary’ Q4 trading update, SGC detailed a strong closing to last year, reporting a 9% increase in consolidated revenues in the approximate range of $820-to-$825 million.

Updating investors, the Nasdaq-listed supplier expects to deliver narrowed Q4 2017 operating losses of circa $40-50 million (Q4 2016: $110 million). The Q4 net loss sum is inclusive of period acquisition costs, combined with further corporate restructuring charges.

For its full-year 2017 guidance, SGC projects a corporate net loss in the range of approximately $238 million to $248 million, an improvement on 2016 losses of $354 million.

Closing a busy Q4 2017, in which SGC completed its $630 million acquisition of Toronto TSX gambling firm NYX Gaming Group, SCG CEO Kevin Sheehan was pleased with the firm’s progress.

He commented: “Our preliminary results for the fourth quarter 2017 reflect our focus on generating top-line growth and ongoing improvements in our gaming, lottery and interactive operation.

"I am proud of the dedication and success achieved by the collaborative efforts of our Scientific Games colleagues around the globe, who continue to empower our customers and deliver success for all our stakeholders."

SGC has now entered a crucial opening period of 2018, in which the company will integrate its acquired NYX Gaming assets to create a new digital gambling division, led by former NYX Gaming CEO Matt Davey.

Totally Gaming says: All industry stakeholders will be monitoring SGC’s progress, as the firm expands its digital services and games portfolio. The pressure is on for them to deliver systems that can service all core disciplines of the gambling value chain.

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