Scientific Games boosted by interactive arm
Social casino and online gaming products labelled âstar performersâ for Vegas firm
The interactive arm of Scientific Games posted a 55% year-on-year jump in Q1 revenues thanks to a booming social casino offering.
Interactive revenue jumped from $46.9m to $72.6m, far outpacing company-wide revenue growth of 4%.
And social casino was the star within the Interactive segment â which also includes web and mobile real-money gaming casino products â with revenues up 58%.
âInteractive was our star performer of the quarter,â Gavin Isaacs, Scientific Games president, said.
âWe significantly outperformed the social casino gaming category prior quarter and year ago levels. Total interactive segment revenue was up 20% on a quarterly sequential increase and 55% year-over-year.â
Earlier this week Scientific Games announced the dual-channel launch of its social gaming platform on mobile and desktop at seven Eldorado Resorts casinos.
However, overall the company continued to lose money, as its land-based gaming revenue fell 1% to $421m, leading to a net loss before income taxes of $112m.
Michael Quartieri, Scientific Games’ CFO, added: “Across our global operations, our focus is on fiscal discipline, seeking further process improvements and operating efficiencies, as we continue to prudently invest to sustain our leadership in innovation.
âBy driving profitable growth and increased conversion of AEBITDA into cash flow, we expect to remain on a path to further deleverage in 2016 and beyond.”