Excellent Q2 and H1 Results from Scientific Games
Scientific Games has reported revenues of $880 million for the second quarter of 2021, an increase of 63.2% year-on-year.
Of that figure, $367 million came from gaming while $266 million came from Scientific Games’ lottery products. The remaining money ($247 million) came from SciPlay, the company’s digital games developer, and digital play.
However, at present Scientific Games is pressing ahead with its plan to divest its lottery and sports betting businesses. The plans were announced in June as party of the company’s strategy to achieve “sustainable growth”.
Gaming revenue increased the most, by 303.2% compared to the same period last year during which many casinos were closed due to the coronavirus pandemic. A total of $551 million came from revenue services while instant products generated $174 million and $155 million came from product sales.
Operating expenses totaled $717 million, up 20.5% on last year. These included selling, general and administrative costs, services costs, and depreciation, amortization and impairment costs. After expenses, the total operating income was $163 million, up $219 million year-on-year. Once all expenses are taken into account, Scientific Games had Q2 net income of $113 million, up by $311 million.
The company also released its results for the first half of 2021, which saw a revenue increase of 27.2% to $1.60 billion, compared to $1.26 billion in the first half of last year. There were total operating expenses of $1.36 billion for H1, up 0.9% compared to last year, which left total operating income for the half at $244 million, up by $332 million.
I am very pleased that we continue to make tremendous progress on all of our key strategic pillars while also driving significant growth in the quarter. We are moving rapidly to transform our company and I have never been more optimistic about our path forward.