Scientific boosted by machine sales growth at end of ‘transformational year’

Scientific Games reported positive quarter-on-quarter growth, but revealed a net loss of $1.4 billion (€1.27 billion) for 2015 following its $5.1 billion acquisition of Bally Technologies.

The gambling machine manufacturer and services company accrued total revenue of $2.8 billion in the year to December 31, as it benefited from the addition of Bally, which it acquired in November 2014.

The company said that Q4 revenue rose to $737 million – a 10% increase on Q3 – thanks to the sale of 8,990 gaming units, which represented a 46% rise on the previous period.

Net loss for the full year included the impact from $1 billion of “unusual pre-tax charges”, $205 million of non-cash long-term asset and other asset impairment charges, and $63 million of restructuring, integration and legal contingencies and settlements costs.

Scientific added that attributable operating profit was $1.1 billion for the year and $293 million for the fourth quarter, while Q4 margin increased to 40%, driven by higher revenue and lower costs due to integration actions implemented earlier in the year.

Gavin Isaacs, Scientific Games’ president and chief executive, said that 2015 had been a “transformational year” for the company, culminating in a “strong finish” in the fourth quarter.

“We completed the heavy lifting of integration, benefited from $231 million of implemented annualised cost synergies, and built a strong foundation for our future,” he added.

“We are one company, with one mission and three strong businesses, offering the broadest product portfolio in the industry.”

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