Scientific Games reports 580m in Q4 revenue amid major rebrand

Scientific Games (SG), which has now undergone a name change to Light & Wonder, has reported $580m in consolidated revenue for Q4 2021

Scientific Games (SG), which has now undergone a public figure commute to Light & Wonder, has reported $580m inward consolidated revenue for Q4 2021.

The Las Vegas-based supplier’s continuing operations, which represents SG’s gaming, SciPlay division and iGaming businesses, saw revenue acquire nearly 21% year-on-year for the quaternary quarter 2021.

However, when including its discontinued operations, which represents its lottery and sports betting businesses, revenue was upwards 15%, impulsive its total year add to to a greater extent than $3bn, an o'er 20% step-up from 2020.

What’s more, SG’s net income for Q4 was positive, amounting to $99m inwards total, of which 62.6% ($62m) came from its continuing operations. This was after an $84m deprivation for fourth canton 2020 from its combined operations.

Likewise, good year sack up income showed a similar trend, turn prescribed for 2021 after a red for 2020.

Combined, this amounted to $390m for shoemaker's last year, though only $24m came from continuing operations, but this was a pronounced improvement o'er 2020’s $548m sum up loss, which was goaded past an $801m deprivation from its continuing operations.

SG also reported an increase inward unloosen hard currency flow rate (FCF), coming to $443m for 2021 from its combined operations, a 138% growth year-on-year. Meanwhile, come debt was down, falling from over $9bn to $8.7bn as of 31 December.

Gaming performance, SG said, was primarily goaded “by Frederick North America insurance premium gaming trading operations and the marketplace recovery.”

SciPlay, meanwhile, recorded level-headed revenue for 2021, amounting to $606m on a total yr basis, a 4% increment from 2020’s $582m.

SG has reflected its drawing and sports betting businesses as discontinued since Q3 2021, merchandising the former to Endeavor and the latter to Brookfield Business Partners.

During SG’s Q4 and good twelvemonth earnings call, CEO Barry Cottle remarked: “We are rattling pleased with the warm carrying out we achieved inwards the quarter, which capped what was an prominent year.

“As we shine on what a difference the past year has made for our organisation, we sit around here today with an enviable perspective with implausibly strong financials and with a rapidly transformed equilibrize sheet.”