Revenue and net loss both increase for Scientific Games

4 Aug 2015

By Howard Stutz

Scientific Games Corp. said Monday a second quarter net loss of $102.2 million was the result of costs and charges associated with the company's acquisition and integration of slot machine manufacturers WMS Gaming and Bally Technologies in the past 24 months.

Scientific Games said the net loss translated into a per-share loss of $1.10 in the quarter that ended June 30. A year ago, before the $5.1 billion purchase of Bally was finalized, the company lost $72.8 million, or 86 cents per share.

Scientific Games said its total revenue of $691.5 million in the quarter was 66 percent higher than a year ago and 4.9 percent more than the company's first quarter earnings, which included WMS and Bally. Scientific Games acquired WMS in October 2013 for $1.5 billion.

"We expect the progress from rapidly implementing our integration strategies during the first half of 2015 will be favorably reflected in our performance during the second half of this year," Scientific Games CEO Gavin Isaacs said in a statement.

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	Revenue and net loss both increase for Scientific Games 4 Aug 2015 By Howard Stutz <a href='https://ad.casinocity.com/adclick.php?n=a21efcd1'><img src='https://ad.casinocity.com/adview.php?what=-site:vendors/width:250/RON&n=a21efcd1' border='0' alt='' /></a> Scientific Games Corp. said Monday a second quarter net loss of $102.2 million was the result of costs and charges associated with the company's acquisition and integration of slot machine manufacturers WMS Gaming and Bally Technologies in the past 24 months. Scientific Games said the net loss translated into a per-share loss of $1.10 in the quarter that ended June 30. A year ago, before the $5.1 billion purchase of Bally was finalized, the company lost $72.8 million, or 86 cents per share. Scientific Games said its total revenue of $691.5 million in the quarter was 66 percent higher than a year ago and 4.9 percent more than the company's first quarter earnings, which included WMS and Bally. Scientific Games acquired WMS in October 2013 for $1.5 billion. "We expect the progress from rapidly implementing our integration strategies during the first half of 2015 will be favorably reflected in our performance during the second half of this year," Scientific Games CEO Gavin Isaacs said in a statement. Copyright GamingWire. All rights reserved.