Scientific Games back to profit in Q2 as gaming segment soars

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Global gaming giant Scientific Games returned to profit in the three months to 30 June 2021, driven by a resurgence in gaming revenue and continued strength in its digital segment.

According to the companys financial results released overnight (Asia time), revenue in 2Q21 grew 63% year-on-year and 20.7% compared with the March quarter to US$880 million. As a result, net income reached US$113 million, improved from a loss of US$198 million a year earlier and a US$9 million loss in Q1. Adjusted EBITDA more than doubled year-on-year to US$383 million.

By segment, strong growth in gaming operations and gaming machine sales saw the gaming segment revenue soar by 303% to US$367 million, with Adjusted EBITDA of US$196 million compared with a 2Q20 loss of US$31 million.

Lottery revenue increased 27% to US$266 million with Adjusted EBITDA of US$138 million while Digital revenue was also up 27% to US$93 million with Adjusted EBITDA of US$31 million.

SciPlay revenue fell 7% to US$154 million although this was still its second highest of all time behind only 2Q20 in the midst of the COVID-19 pandemic. Adjusted EBITDA was US$48 million.

We have emerged from the pandemic a much stronger company with significant momentum, said Scientific Games President and CEO, Barry Cottle.

All of our businesses grew sequentially on both the top and bottom lines in the quarter. Gaming delivered its highest revenue quarter since the fourth quarter of 2019, Lottery and Digital achieved record results and SciPlay delivered its second highest revenue quarter in its history.

Following our strategic review, we will be singularly focused on becoming a leading cross-platform global game company with focus on content and digital markets. We are moving rapidly to transform our company and I have never been more optimistic about our path forward.