Machine sales & interactive growth boost Scientific Games Q1 performance

first_img Scientific Games confirms Michael Eklund as inbound Group CFO  May 22, 2020 StumbleUpon Perelman fund reviews majority shareholding in Scientific Games July 16, 2020 Share Related Articles Scientific Games appoints Rich Schneider as group product strategy lead April 22, 2020 Submit Share Publishing its Q1 2016 results Nasdaq-listed Scientific Games Corporation (SGC) has published its ‘sixth consecutive quarter of growth’, driven by strong machine gaming sales and its interactive division.Q1 2017 revenues rose 6% to $725 million, up from $682 million a year ago. Revenue growth was supported by a 24% increase in global unit shipments and a 33% increase in interactive revenues.A strong Q1 revenue performance would support the firm’s operating income, which increased 75% to $88 million  (Q1 2016: $50.3 million).The Las Vegas company continues to pay installments on its reduced corporate debt of approximately $8 billion. The firm would report a period Net loss of $100 million compared with $92.3 million in the prior-year period, as the increase in operating income was offset by a $29.7 million loss on extinguishment and modification of debt and a $35.9 million increase in the income tax provision.Kevin Sheehan, Chief Executive Officer of Scientific Games commented on company performance“Our continued steady improvement in revenue and margin are a direct result of our focus on creating innovative products that drive demand and our commitment to operational excellence,”“This is a great start to the year, with all three of our business segments contributing to growth. We have a tremendous global team firmly focused on unlocking the power of our brands, strengthening our commitment to innovation, and executing a disciplined fiscal approach to enhance long-term shareholder value. We are building for our future.”last_img read more

CANU unearths cocaine in fish at CJIA

first_imgRanks from the Customs Anti-Narcotics Unit (CANU) stationed at the Cheddi Jagan International Airport (CJIA) on Tuesday evening unearthed a quantity of cocaine stashed in partially frozen fish. The shipment of fish was scheduled for export to the United States. Based on initial investigations, seven persons were taken into custody as the investigations continue. The company which was used to ship the fish is from the West Bank of Demerara.last_img