Scientific Games Revenue Recovers During Third Quarter Thanks to Lottery
November 5, 2020
Scientific Games has reported its results for the third quarter of 2020 ending September 30, 2020, which it says have been adversely impacted by the COVID-19 disruptions primarily in the gaming business unit.
The company reported an 18.4% year-on-year decline in revenue for the third quarter of 2020, at $698 million compared to $855 million in the prior year period. That, though, represents an increase from $539 million in the second quarter, a 29.5% recovery.
And its lottery, SciPlay and digital businesses grew in the quarter, with its digital business up nearly 50% and SciPlay ahead by more than 50% from the prior year.
The year-on-year decline was due to its land-based content business, SG Gaming, which saw revenue decline by 49.1% to $231m. The gaming section’s decline meant that SG Lottery’s revenue of $241m, up 9.5%, was its main source of revenue during the quarter.
Its social gaming arm SciPlay saw revenue rise 30.2% to $151m, with average monthly actives standing at 7.3m, and daily actives 2.6m, during the quarter. Meanwhile, SG Digital revenue was up 15.4% at $75m.
Barry Cottle, President and Chief Executive Officer of Scientific Games, said: "As a result of our team's focus on our strategy, our diverse portfolio and our commitment to cost management, we delivered strong cash flow in the third quarter. I really am excited around all the great games, products and solutions we have to help our partners navigate the current environment and provide innovative solutions for the future. I'd also like to welcome the proven industry leaders to our board who will augment our focus on de-levering our balance sheet and will help the company prudently and thoughtfully shape our corporate strategy."
SOURCE: Scientific Games