Scientific Games delivers revenue growth in FY 2018

Scientific Games’ losses widened despite a 9 percent rise in revenue to $3,363 million, the company’s full year 2018 report details.

Net loss was $352.4 million (FY17: $242.3 million) attributed to its Spicerack acquisition, restructuring and a $151.5 million settlement related to a Shuffle Tech lawsuit.

Barry Cottle, CEO and President of Scientific Games: “We are building momentum and continuing to grow our business while at the same time operating more efficiently. The entire organization is enthused about 2019 and focused on helping our customers win, which will drive our free cash flow and create meaningful value for our shareholders.”

Michael Quartieri, Chief Financial Officer of Scientific Games: “We continue to grow our top line driven by the strength of our products. We believe there are opportunities for further growth in 2019, both on a top line and bottom line basis as we are firmly committed to maximize free cash flow and deliver our balance sheet.”

While Scientific Games reported a decline in total gaming revenues , gaming operations revenues and Gaming machine sales, the company enjoyed growth in Gaming systems, Table products, lottery and social revenues.

Social revenue grew 19 per cent to $113.7 million attributed to its Bingo Showdown, Jackpot Party Social Casino and Monopoly-themed casino app.

Total digital revenue increased to $71.5 million due in part to $51.7 million of revenue from NYX.