There’s no doubt about it, Scientific Games (SG) continues to report company growth every month. With that said, SG once again revealed their digital division saw a significant spike in generated revenue. However, this is mostly due to the acquisition of NYX Gaming Group (NYX). So without further ado, let’s crunch the number to get the real story!
Third Quarter Report
As SG closes out the third quarter of 2018, the numbers rolling in look quite impressive! For example, SG’s revenue jumped to $821 Million, which is a $46.5 Million year on year (YOY) increase. Although as we mention above, this is due to the acquisition of NYX Gaming Group. Not to mention, social revenue was up 11% YOY to $105.1 Million, and this is being credited to the acquisition of Bingo Showdown in April 2017. Which, further proves SG’s ability to stay ahead of the game!
What’s more is that their social casino app Monopoly saw a strong performance that complemented the company’s Jackpot Party product. Also, SG Digital saw the biggest increase YOY, In that department. To sum up, revenue jumped from $16.3 Million to $61.2 Million! Meanwhile, SG’s lottery offerings also saw a 2% increase to $206.8 Million!
According to SG’s CEO Barry Cottle, “We’re very pleased with the growth of our company. It’s our goal to continue leading SG into the future. Our customer’s respond well to our innovative products in sports betting.”
Additionally, SG’s CFO Michael Quartieri said, “This quarter marks the 12th straight quarter of growth in revenue and adjusted EBITDA. Our focus is on generating cash flows that provide a clear path to continue strengthening our balance sheet.”
All and all, SG is on the rise, and nothing seems to be standing in their way going forward! Not to mention, they have several more plans in the making that we should see soon!