Scientific Games Corporation, in its Q2 results for the period ended June 30, 2018, has recorded its eleventh consecutive quarter of year-on-year growth. Focusing on the financial highlights, it revealed revenue ahead 10 per cent to $844.7m, up from $766.3m in the year ago period, reflecting $50.6m in revenue from NYX, along with growth in all of its businesses. Gaming and Lottery revenue included a $10m negative impact from applying new revenue recognition accounting. Total gaming revenue was ahead by $13.5m.
Net loss decreased to $5.8m compared to $39.1m in the prior year period, primarily driven by higher revenue and more efficient business processes throughout the organisation and reflective of $33.5m in restructuring and other charges offset by a $34.5m gain on re-measurement of Euro denominated debt.
Consolidated attributable EBITDA increased 8 percent to $340.4m from $314.8m in the prior year period, primarily driven by higher revenue and increased efficiency throughout the organisation. Consolidated AEBITDA margin was 40.3 percent.
Barry Cottle, CEO and president, said: “I’m very pleased with our accomplishments this quarter and particularly proud that all four businesses continued to experience growth this quarter and are accelerating our financial momentum. Our core businesses are strong and ready to capitalise on the significant opportunities in the marketplace to drive growth by delivering great games and robust platforms and systems that enable them. We remain focused on delivering results, maintaining our financial discipline and strategically investing in our future to maximize shareholder return.”
Michael Quartieri, CFO, added: “This quarter marks our eleventh consecutive quarter of year over year growth in revenue and AEBITDA. We have clear momentum across all of our global businesses. The improvement in our operating results, along with lower interest costs, provides us with a clear path of increasing cash flows, deleveraging, and strengthening our balance sheet.”