Scientific Games Announced The Growth Of Losses In 2018

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January 31, 2022
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Even a significant increase in income could not compensate for the effect of the growing costs of scientific games in 2018. The loss of the gaming solutions supplier during this period rose to $ 352.4 million (£269.3 million /€310.1 million).

Scientific Games Announced The Growth of Losses In 2018

Revenue for 12 months ended december 31, 2018 increased by 9.1% compared to the same period of the previous year. At the same time recorded a slight decrease in the income from games – 0.7% – up to $ 1.8 billion, which took place due to severe growth in social and digital divisions.

Revenue from social games increased by 14.Nine% – up to $ 415.9 million, digital – more than three times, to $ 269.6 million, thanks to the expansion of the possibilities of nyx gaming group. Lottery showed a moreest height: by 4.3% since 2017 – up to $ 846.3 million.

However, positive results on retail accompanied by a significant increase in operating expenses. The cost of services that grew by 21.2% – up to $ 505.6 million and restructuring related costs – $ 253.4 million (compared to $ 45.9 million in the previous year) – showed a particularly significant increase. In the costs associated with restructioning, $ 151.5 million entered, which were paid by shuffle tech to resolve a long-term antitrust in december 2018, as well as $ 27.5 million in the form of compensation payments. The best thanks media, acquired in 2017, contributed to an increase in total operating expenses per year by 15.One% – up to $ 3.1 billion. In this case, ebitda increased by 9% – up to $ 1.3 billion.

However, operating income per year decreased by 32.4% – up to $ 265.6 million. After the costs associated with financing, including funds that pay interest in the amount of $ 597.2 million and a loss of $ 93.2 million on debt financing transactions, were taken into account, scientific games published a loss before tax in the amount of $ 339, 3 million. Net loss of the company for the year grew by 45.4% – up to $ 352.4 million.

It has previously known that the national lottery of bulgaria has become a partner scientific games. Operators will launch a new digital gambling service for local customers.

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