SciPlay has posted record revenue for the fourth consecutive quarter in Q2 and revealed that Light & Wonder is to acquire the remaining shares in the company.
Revenue reached US$189.9m in Q2, growing 19 per cent year-on-year.
Net income ($41.4m) and adjusted EBITDA ($59.4m) offered growth of 28 per cent and 45 per cent year-on-year, respectively.
SciPlay added that Jackpot Party Casino, Quick Hit Slots and Gold Fish Casino all reported record quarterly revenue.
Josh Wilson, CEO of SciPlay, said the company has “consistently grown our business” and “led the social casino market in performance over the past six consecutive quarters.”
Daniel O’Quinn, interim CFO at SciPlay, added: “We continue to outperform the social casino market, posting our sixth consecutive quarter of over-performance and driving the competitive lead we’ve established in the space. We are delivering engaging experiences to our players, retaining them in our games and heightening our payer base and their monetisation."
SciPlay, Light & Wonder deal
In tandem with the Q2 results, SciPlay also revealed that Light & Wonder is to acquire the remaining shares in SciPlay.
Light & Wonder will take up the 17 per cent of equity interest it does not currently own for $22.95 per share in an all-cash transaction. A special committee which was introduced in early July said that the deal was “in the best interests of the SciPlay shareholders,” the company said.
Matt Wilson, President and CEO of Light & Wonder, said the move will “further accelerate our cross-platform strategy” and create an “even stronger and more efficient platform for growth.”
He added: “Our combined balance sheets will provide us with the flexibility to further invest in developing and launching great games cross-platform and deliver enhanced returns to shareholders. We look forward to bringing our world-class teams together and are excited to innovate and grow as one unified company for the benefit of our employees, players and shareholders.”
