Scientific Games has reported results for the fourth quarter and year ended December 31, 2018.
Fourth quarter revenue rose eight per cent to $885.7m, up from $823m last year, reflecting $51.7m in revenue from NYX, along with growth in the lottery and social businesses.
Net income was $206.8m compared to a net loss of $43.1m in the prior year period, driven by improvement in operating income and due to a $183.1m reversal of 55 per cent of the previously established reserve related to the Shuffle Tech legal matter.
Full-year revenue increased nine per cent, or $279.6m, year over year to $3,363.2m. Net loss was $352.4m compared to a net loss of $242.3 million a year ago, driven by $253.4m in restructuring and other charges primarily consisting of the $151.5m payment to resolve the Shuffle Tech legal matter.
Barry Cottle, CEO and president of Scientific Games, said, “This is a very exciting time for Scientific Games. We’re focused on developing the best games and the most innovative platforms to deliver outstanding gaming experiences wherever and whenever players choose to play. We are building momentum and continuing to grow our business while at the same time operating more efficiently.
“The entire organisation is enthused about 2019 and focused on helping our customers win, which will drive our free cash flow and create meaningful value for our shareholders.”
