Leading casino equipment manufacturer Scientific Games has reported increased revenue and decreased operating losses for the final quarter of 2016.
In an announcement, the company revealed revenue for the three months to 31 December of US$752.2 million, an increase of US$15.2 million, with an operating loss of US$12.3 million – down from US$54.4 million year-on-year. The loss included a US$69.0 million non-cash goodwill impairment charge and restructuring and other charges of US$36.3 million.
Full year revenue was up five percent year-on-year to US$2.88 billion with an operating income of US$130.6 million as opposed to an operating loss of over US$1 billion in 2015, while the company reported a net loss of US$353.7 million – down from US$1.39 billion in 2015.
Gaming revenue fell two percent to US$460 million but revenue from social gaming grew 52 percent to US$92 million.
“2016 was another year of growth, progress and industry-leading product innovation for Scientific Games,” said CEO Kevin Sheehan. “The 2016 fourth quarter was the fifth consecutive quarter of growth with year-over-year revenue growth besting last year’s strong performance.
“Our Gaming division continues to lead with innovation and strong execution … with 2017 off and running, we are maintaining focus on playing smart to galvanize our business growth.”
