Scientific Games is moving rapidly to execute on our vision with a singular focus to become a leading cross-platform global game company, accelerating efforts to de-lever and invest for sustainable growth.
We are very pleased with the tremendous progress we are making on all of our key strategic pillars:
- Optimizing our portfolio, moving quickly on planned divestitures of both the Lottery and Sports Betting businesses
- Investing in our largest growth opportunities, both organically and inorganically, in content and digital markets to accelerate growth. Evidenced by the organic investments in content R&D and a new Las Vegas iGaming studio, as well as the targeted acquisitions of Lightning Box and Koukoi Games.
- Significantly de-levering and transforming the balance sheet with meaningful progress organically. Confident on further meaningful de-levering as we pursue strategic alternatives for the Lottery and Sports Betting businesses.
We delivered strong sequential growth across all businesses:
- Gaming exceeded 2019 levels across key metrics
- Lottery and Digital achieved record results
- SciPlay achieved its second highest revenue quarter in its history
Barry Cottle, President and Chief Executive Officer of Scientific Games, said, “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 have emerged from the pandemic a much stronger Company with significant momentum. All of our businesses grew sequentially on both the top and bottom lines in the quarter.”
Mike Eklund, Executive Vice President and Chief Financial Officer of Scientific Games, added, “I am very encouraged by the interest and discussions we are having around our proposed divestitures, and we are making great progress as we move quickly to unlock shareholder value. We are proud of the team as they continue to execute during this exciting time, delivering a quarter with strong revenue, profit and cash flow growth.”
It has been an amazing journey the past 10 months. As an organization we have embarked on and accomplished so much. Our performance has built each quarter leading to the incredible results we reported today, and we are just getting started!
Please reach out to our IR team if you have any questions at [email protected].