Lottery and gaming group Scientific Games, the parent company of SG Gaming, saw second quarter revenues jump 77 per cent year-on-year.

Gavin Isaacs

The company, which recently acquired gaming company WMS and last week announced plans to takeover Bally Technologies, reported revenues of $416.9m, up from $235m in the same period last year. EBITDA, meanwhile, increased by $47.6m to $132.1m.

The company recorded a net loss of $72.4m, or $0.86 per share, inclusive of a $0.31 per share loss on the early extinguishment of debt, $0.09 per share related to its share of an estimated net shortfall accrual recorded by its Northstar Illinois joint venture, and $0.06 per share in employee termination and restructuring expense. 

This compared to a net loss from continuing operations of $12.4m, in the prior-year quarter, which included $0.03 per share related to acquisition-related and transition costs and an $0.08 per share impact related to a write-down and accelerated depreciation resulting from a change to reduce the depreciable life of its UK gaming terminals.

Scientific Games’ revenue reflected contributions from the WMS acquisition and a seven per cent year-on-year increase in lottery revenue, CEO Gavin Isaacs (pictured) said.

"Although our second quarter results continued to reflect challenging gaming industry conditions, we saw sequential quarterly revenue growth across our businesses and benefits from our ongoing integration initiatives, which contributed to a $9.3m sequential quarterly increase in attributable EBITDA.

“While we have made significant progress across our worldwide organisation with our integration efforts, we believe there are additional opportunities to grow our business and further strengthen performance.”