Scientific Games Back in the Black as Divestitures Move Forward
Scientific Games is back in the black after a period of recurring closures and financial disruptions.
Scientific Games Corporation reported a strong second quarter with a 63% annual revenue increase. The company is making progress with the divestiture of its lottery and sports betting businesses. The increase in revenue could be attributed to the record figures in the US and a rebound in UK and Europe.
Scientific Games is back in the black as its Lottery and Digital businesses grew by 27%. The company will thrive to become a leading cross-platform global game company focusing on content and digital markets. The acquisition of SportCast brought in $63 million non-cash gain.
All of the company's businesses grew sequentially on both the top and bottom lines in the quarter. Gaming delivered its highest revenue quarter since the fourth quarter of 2019, Lottery and Digital achieved record results and SciPlay delivered the second-highest revenue in its history.