Scientific Games reports first-quarter revenue up 6 percent
Scientific Games, the maker of popular slot machines and table games, said first-quarter revenue rose 6 percent as it sold more products and a greater number of people played its online games.
Revenue at the Las Vegas-based company increased to $725 million from $682 million in the prior-year period, it said in a statement on Thursday after the market close.
Gaming machine sales rose 16 percent as the company shipped 24 percent more units in the quarter. Revenue from its interactive business jumped 33 percent to $96.3 million, driven by social gaming app Jackpot Party Social Casino and 88 Fortunes.
“The quarter reflected strength in some important areas,” said David Katz, an analyst at Telsey Advisory Group in New York. Katz raised his fair value of Scientific Games shares to $24 from $20 after the results.
Scientific Games quarterly loss though widened to $101 million from $92.3 million in the year-earlier period due to a $29.7 million loss from refinancing its debt and a $35.9 million increase in the income tax provision, the company said in the statement.
Shares gained 85 cents, or 3.71 percent, to close at $23.75 on Friday.
Contact Todd Prince at tprince@reviewjournal.com or 702-383-0386. Follow @toddprincetv on Twitter.
