Egaming boosts WMS revenues
Games manufacturer, acquired by Scientific Games last week, sees online revenues increase tenfold.
WMS CEO and chairman Brian Gamache has praised the company’s growing egaming business after the gaming supplier posted increased year-on-year revenues for the three months ended 31 December 2012.
Having been acquired by Scientific Games last week, WMS recorded US$157.5m in Q2 revenues, compared to $162.2m in the corresponding period last year – a 2.9% increase – although net income decreased from $16.1m to $4.3m year-on-year. The bulk of the revenue was generated through gaming machine sales.
WMS’ egaming products, operated through its Williams Interactive division, launched in July last year, generated $13m in revenues, in comparison with $1.2m in Q2 2011.
Commenting on the revenues generated through egaming, Gamache said: “With the revenue growth achieved to date for interactive products and services, our investment in this attractive new product distribution channel is proving to be very prudent. The early success of Jackpot Party Social Casino contributed to the $12 million in year-over-year revenue growth from interactive products and services.”
Jackpot Party Social Casino was launched on iOS in December, when WMS also agreed an online slots deal with the British Columbia Lottery Corporation.
Last week saw Scientific Games announce the acquisition of WMS Industries for $1.5bn in cash, the equivalent of $26 a share, with Scientific Games CE) and chairman Lorne Weil describing the deal as “the opportunity of a lifetime” for both companies.