Core business growth drives Scientific Games Q3 revenues up 4%
Revenues on the rise as lottery and gaming supplier looks to acquisition of WMS as platform for long-term growth
Scientific Games has seen Q3 revenues rise 4% to $234m compared to the same period last year, with strong results from its core business helping overall revenues hit $689m for the nine-month period ended 30 September.
The lottery and gaming giant revealed an overall loss of $0.5m for the quarter, a significant improvement compared to the $27.2m loss in the third quarter last year.
Its lottery business saw strong instant ticket and lottery system retail sales, with US retail sales of instant tickets increasing by more than 4% in the quarter, while sales of draw-based games grew nearly 8% compared to the third quarter last year. In Italy, instant ticket sales were stable, while retail sales were up slightly year-over-year for the third quarter.
The New York-based company last month announced it had completed its $1.5bn buyout of gaming machine manufacturer WMS Industries including its online subsidiary Williams Interactive. CEO of Scientific Games Lorne Weil said the move will be the basis of future growth for the company.
The acquisition gives Scientific Games a wide range of online assets, including Williams’ Jackpot Party Social Casino which is performing “extraordinarily well” according to Weil, who added that the company had just launched a Jackpot Party instant lottery ticket.
“Currently [Jackpot Party] is the number one top grossing casino app in the Google Play Store for both tablet and mobile device platforms and among the top five grossing casino apps for the Apple iPhone and iPad and growing at a very significant rate.
“The demonstrated strength and momentum of our existing operations combined with the opportunities presented by our recently completed WMS acquisitions establishes a tremendous platform for a long-term growth for us,” he said.
Meanwhile Scientific Games has played a vital role in Delaware going live with regulated internet gaming this week. Earlier this year eGR North America revealed that Scientific Games, along with 888 and Williams Interactive, would provide the state’s online gambling services, following a quick-fire RFP process.
In an interview with eGR NA, Delaware’s lottery director Vernon Kirk said Scientific Games would “coordinate all the pieces of the puzzle and act as a central point of contact for the lottery”.
As of October 1 Scientific Games also began providing marketing and sales services to the New Jersey lottery, marking the first time in its history it is the primary supplier of instant ticket to New Jersey.