Scientific Games Reveals A Solid & Steady Q2
Consistent year-on-year revenue is at the order of the day for a diversified Scientific Games. The big-name corporation recently revealed its performance for the second quarter of the year and what stood out as most obvious is that the decision to diversify into more key markets and products was a particularly smart one indeed.
In fact, Scientific Games experienced growth across 3 of its 4 focus-segments. Only gaming performed poorer than during the second quarter of 2018, with the remaining 3 segments making up good and solid for its dwindling performance. SG’s SciPlay, Lottery and digital product offerings remained mostly steady, and in some instances, even managed to grow.
SciPlay Finished Way On Top
SciPlay proved to be the overall top-performer, with revenue up by a stellar 33% when compared to 2018’s Q2. Lottery didn’t perform too poorly either, being up by 12% to $231 million for the year, as opposed to the $207 in 2018.
Gaming experienced a major slump and performed a worrying 9% poorer than in 2018. But, said SG Corp, the lower gaming revenue did not exactly come as a surprise. The company put gaming’s poorer performance down to fewer land-based casinos having opened doors during the first couple of months of 2019, as well as much lower replacement sales all round.
Hope For Gaming Yet
But, said Barry Cottle, SG’s President and CEO, all isn’t lost in the land of gaming. There are many ways in which to offset the key contributing factors with regards to the poorer performance. Despite the fact that fewer new start-ups are actually making it successfully off the launch pad, SG has been focusing on creating a bigger variety of games. What this means is that gaming will in all likelihood stabilise over the course of the next couple of months, at least to some extent. The recent poor performance is mostly the result of the particular timing.
The focus is now on generating a solid stream of cash flow, continued Cottle. A renewed focus on digital offerings is at the order of the day. Scientific Games will continue to enlarge its territory thanks to it constantly being on the lookout for new ways to expand into new digital markets.