Scientific Games reports results

Scientific Games Corporation has reported its Q4 and FY 2015 results, noting that Q4-2015 revenue grew 10 percent quarter on quarter to $737 million driven by increased land machine orders and an 18 percent q-o-q increase in interactive revenue to $60 million.

Q4 EBITDA rose to $293 million on margin of 40 percent, whilst over the full year it increased to $1.075 billion.

Unusual pre-tax charges of $137 million resulted in a Q4 net loss of $128 million, whilst the net loss over the full year was $1.394 billion, including the impact of $1.271 billion of unusual pre-tax charges.

The acquisition of Bally Tech in late 2014 boosted total group revenues to $2.8 billion over the full 2015 year, whilst group operating profit was $1.1 billion for the year and $293 million for the fourth quarter on margin of 40 percent.

Management reported that over the year cost synergies benefited the bottom line by $231 million, and total debt declined by $33 million. As of December 31, 2015, the company’s cash and availability under the revolving credit facility totalled $583 million.

“2015 was a transformational year for Scientific Games, culminating in a strong finish for our fourth quarter operating results,” said Gavin Isaacs, Scientific Games’ President and Chief Executive Officer.

“We completed the heavy lifting of integration, benefited from $231 million of implemented annualized cost synergies, and built a strong foundation for our future.

“We are one company, with one mission and three strong businesses, offering the broadest product portfolio in the industry.”