Scientific Games narrows losses as company enters crucial 2018

Kevin Sheehan

Issuing a market update, Nasdaq-listed industry technology provider Scientific Games Corporation (SGC) has detailed that it expects to deliver higher group revenues, combined with a narrower net loss for its Q4 2017 performance.

Publishing a ‘preliminary’ Q4 trading update, SGC governance expects a 9% increase in group consolidated revenues in the range of approximately $820-to-$825 million.

Closing a busy Q4 trading period, SGC targets group net-losses of $40-50 million (Q4 2016: $110 million). The net-loss figure is inclusive of $28 million corporate restructuring charges and M&A costs relating to the firms $630 million acquisition of NYX Gaming undertaken during the period.

Updating investors, SGC governance details that it seeks to deliver full-year 2017 corporate net loss to be in a range of approximately $238-to-$248 million, compared to corresponding FY 2016 net loss of $354 million.

“Our preliminary results for the fourth quarter 2017 reflect our focus on generating top-line growth and ongoing improvements across our gaming, lottery and interactive operations,” detailed Kevin Sheehan, CEO and President of Scientific Games.

“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 now enters a crucial, Q1 2018 trading period, in which the company will integrate its acquired NYX Gaming assets, creating a new digital gambling division, led by former NYX Gaming CEO Matt Davey.

Check Also

Turkey

Scientific Games lands Turkey National Lottery role

According to an industry source, Scientific Games has been selected to exclusively supply its lottery …

FanDuel lands home-run MLB partnership

Major League Baseball (MLB) has announced it has struck a deal with fantasy sports provider …

NZ Racing boosts broadcast coverage with Sportsbet partnership

New Zealand’s ‘Racing Industry Transition Agency (RITA)’, the body charged with overseeing the restructuring of …