Scientific Games Expects Better Results in 2018
The Las Vegas-headquartered company that provides gambling products and services to lottery and gambling organizations worldwide Scientific Games Corporation has announced that company estimates higher revenues in 2018, especially since it managed to finish the fourth quarter of the last year with a narrower net loss.
According to the recently published preliminary Q4 report, the company is expecting a 9% rise in revenue or translated into hard currency, somewhere between $820 and $825 million.
Much Better Q4 Than In 2016
Scientific Games seeks to close the year’s fourth quarter with net losses of $40-$50 million, which would be quite an improvement over the corresponding period of 2016, which ended with a loss of $110 million.
The projected figure includes $28 million in corporate restructuring charges and M&A costs associated with the December acquisition of NYX Gaming Group worth $630 million.
The market update also revealed the Scientific Games expected the full-year corporate net loss to be in a range of $238-to-$248 million, far less than $354 million recorded during 2016.
Stronger Performance Expected In Q1 2018
Commenting on the recent update, Scientific Games’ Chief Executive Officer and President Kevin Sheehan said the preliminary fourth-quarter results reflected the company’s focus on generating top-line growth and ongoing improvements across its gaming, lottery and interactive operations.
Sheehan added he was proud of the dedication and success achieved by the collaborative efforts of Scientific Games colleagues around the globe, who continued to empower the company’s customers and deliver success for its stakeholders.
It will be interesting to see the performance in the first quarter of this year, during which the company will complete the integration of NYX Gaming Group assets. With that move, Scientific Games will create a new gambling division, led by Matt Davey, NYX former Chief Executive Officer.