{"id":29103,"date":"2016-05-06T09:16:49","date_gmt":"2016-05-06T09:16:49","guid":{"rendered":"http:\/\/www.gaming-awards.com\/NEWS\/?p=29103"},"modified":"2016-05-06T09:16:49","modified_gmt":"2016-05-06T09:16:49","slug":"scientific-games-q1-report","status":"publish","type":"post","link":"https:\/\/gaming-awards.com\/NEWS\/scientific-games-q1-report\/","title":{"rendered":"Scientific Games Q1 report"},"content":{"rendered":"
\"Gavin<\/a>

Gavin Isaacs boss of Scientific Games<\/p><\/div>\n

Gaming firm Scientific Games Corp have announced their Q1 results for 2016 showing both profits and revenues up.<\/p>\n

For the period ending 31st<\/sup> March Scientific Games recorded a rise of 178% in profits to $50 million compared to $18 million for the quarter in 2015. With currency fluctuations the gaming company still showed a 4% growth in revenues to $682 million with the majority of that rise coming from the online gaming division.<\/p>\n

The company also said that their debt stands currently at $8.1 billion following the acquisition of Bally Technologies in 2014, Scientific Games paid $28 million in Q1 in debt repayment leaving $42 million in free cash flow.<\/p>\n

Gavin Isaacs, President and CEO of Scientific Games said, \u201cOur focus on strategic priorities \u2013 product excellence, profitable growth, and strengthening cash flow \u2013 is taking hold, as we have generated positive growth for the past two consecutive quarters. We are building momentum and delivering improved business results, clear evidence of the strength of our comprehensive product portfolio. As we move forward, we are committed to continuous improvement to unlock the power of our brands, leverage our unrivaled innovation and serve our customers to provide meaningful, long-term shareholder value,\u201d<\/p><\/blockquote>\n

Michael Quartieri, Scientific Games\u2019 Executive Vice President and CFO, added, \u201cAcross our global operations, our focus is on fiscal discipline, seeking further process improvements and operating efficiencies, as we continue to prudently invest to sustain our leadership in innovation. By driving profitable growth and increased conversion of AEBITDA into cash flow, we expect to remain on a path to further deleverage in 2016 and beyond.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Gaming firm Scientific Games Corp have announced their Q1 results for 2016 showing both profits and revenues up. For the period ending 31st March Scientific Games recorded a rise of 178% in profits to $50 million compared to $18 million for the quarter in 2015. With currency fluctuations the gaming company still showed a 4% […]<\/p>\n","protected":false},"author":5,"featured_media":26774,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,11,8,18],"tags":[],"class_list":["post-29103","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gaming","category-headlines","category-latest","category-n-america"],"yoast_head":"\nScientific Games Q1 report - iGaming Post<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gaming-awards.com\/NEWS\/scientific-games-q1-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Scientific Games Q1 report - iGaming Post\" \/>\n<meta property=\"og:description\" content=\"Gaming firm Scientific Games Corp have announced their Q1 results for 2016 showing both profits and revenues up. For the period ending 31st March Scientific Games recorded a rise of 178% in profits to $50 million compared to $18 million for the quarter in 2015. 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