Scientific Posts Preliminary 2017 Results
International iGaming giant Scientific Games (SG) has experienced continuous success over the past few years, both in its finances and expansions into new regulated gaming markets. Now, the global software specialist has released a statement predicting its preliminary financial performance for 2017, noting that it is expecting to see at least a 7% increase in revenues over 2016’s figures.
The firm has stated that it believes its revenues climbed to between $3.08 billion and $3.09 billion during the course of last year – which would come as a significant increase over the $2.89 billion posted during the year before. However, despite this revenue growth, SG will still suffer losses of around $248 million due to its purchase of fellow iGaming developer NYX Gaming.
Annual Losses Drop For US Firm
Notwithstanding the debt incurred through this purchase, SG’s losses in 2017 will still be considerably lower than the $354 million losses posted by the firm in 2016. Additionally, the NYX acquisition is expected to begin generating revenues for Scientific in the coming months, meaning that the firm will likely experience even further positive growth throughout 2018.
EBITDA (earnings before interest, tax, depreciation and amortisation) for Scientific Games is expected to reach around the $325 million mark for the twelve-month period in review.
Commenting on his firm’s preliminary financial results, CEO of Scientific Games Kevin Sheehan has noted that the firm’s preliminary predictions for Q4 2017 reflect its focus on creating world-leading growth and innovation across all of its gambling, lottery and interactive gaming segments.
SG CEO Comments On 2017 Financials
Sheehan added that he is proud of the diligence and dedication that his firm and the SG team have achieved through their collaborations, noting that it is they who continue to ‘empower [its] customers’ and create value and success for all of Scientific’s major stakeholders.
Based in Las Vegas, Nevada, Scientific Games is an American gaming company that specialises in the creation of both land-based and digital gambling technology. Its products include an extensive portfolio of electronic gaming machines, online table games, iGaming and iLottery products, and instant lottery games, which are offered in licensed gambling jurisdictions across the globe.
Scientific Games also recently acquired fellow US-based gambling software creator NYX Gaming in an acquisition deal, and has integrated its assets into a new division run by former NYX CEO Matt Davey. The firm has also recently completed its purchase of Tech Art, another successful software developer for the online market.