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Scientific Games Corporation Returns To Profit In Second Quarter

Posted on August 24, 2021 | 11:54 am

Scientific Games Corporation, the famous American provider of gambling products and services, has reported a return to profit in the second quarter of 2021 as gaming revenue increases along with the digital segment.

According to the data released by the company, revenue in the second quarter of 2021 was 880 million U.S. dollars, representing an increase of 63 percent compared to the same period of last year. Moreover, the figure also represented an increase of 20.7 percent compared to the first quarter of this year.

Net income for the second quarter reached 113 million dollars, a drastic improvement from the loss of 198 million dollars that was recorded in the same period of last year and the loss of 9 million dollars in the first quarter of 2021.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) for the second quarter of 2021 was 383 million dollars, more than double compared to the same period of 2020.

The gaming segment recorded an explosive growth of 303 percent, with revenue amounting to 367 million dollars and earnings before interest, taxes, depreciation, and amortization of 196 million dollars.

The company’s lottery business also recorded strong numbers, with revenue increasing by 27 percent to 266 million dollars and with adjusted EBITDA of 138 million dollars. The “Digital” division also recorded a revenue increase of 27 percent year-on-year, with revenue of 93 million dollars and adjusted EBITDA of 31 million U.S. dollars.

Barry Cottle, the President and Chief Executive Officer of Scientific Games Corporation, was quite proud of the results and expressed his belief that the company has become stronger after the pandemic.

“All of our businesses grew sequentially on both the top and bottom lines in the quarter,” the CEO added. “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.”

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Important Focus On Canada

Scientific Games was founded in 1974 and it has its headquarters in Alpharetta, Georgia. The Canadian market is very important for the American company, though, the games that they create for this market are produced entirely at the company’s state-of-the-art manufacturing facility located in Montreal.

In April, the Scientific Games Corporation announced the launch of a new online iLottery subscription program in partnership with the Western Canadian Lottery Corporation. That announcement came just a few months after the American company decided to extend its long-standing contract with Loto-Quebec, a partnership that has been in place for over 50 years.

Source: “Scientific Games back to profit in Q2 as gaming segment soars“Inside Asian Gaming. August 10, 2021.

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