Scientific Games has seen revenue start to recover, growing 23% quarter-on-quarter during Q3 2020.

The Las Vegas-based gaming solutions supplier reported revenue of $698M USD for Q3 2020,  18% down from the $855m reported in the same period last year. Despite this, it was still 23% higher than the $529M generated in the second quarter.

Adjusted earnings dropped 32% to $235m, from $344m for the same period in 2019.

Unsurprisingly, Scientific Games have chalked the difficult year up to the impact of the ongoing COVID-19 crisis, which has severely impacted the operation of land-based casinos and sports events around the world.  

However, the company has seen strong growth for its SciPlay, Digital, and Lottery businesses, which all registered an increase in adjusted earnings. 

Reflecting on the quarter, president and chief executive officer of Scientific Games, Barry Cottle, said:

“As a result of our team’s focus on our strategy, our diverse portfolio and our commitment to cost management, we delivered strong cash flow in the third quarter.

“I really am excited around all the great games, products and solutions we have to help our partners navigate the current environment and provide innovative solutions for the future.  

“I’d also like to welcome the proven industry leaders to our board who will augment our focus on de-levering our balance sheet and will help the company prudently and thoughtfully shape our corporate strategy.”

Staying with Scientific Games, last month the company announced it would be adding NetEnt content to its OpenGaming platform in US markets. 

AYO.NEWS says:

Luckily for Scientific Games, despite its significant exposure to land-based operations, it’s online business was already substantial before the pandemic hit. Like other suppliers who are still straddling the land-based/online gaming industries, we expect the crisis will have a significant impact on its future business focus, pushing it much more towards online gaming. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

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