Las Vegas-based provider of various gaming solutions Scientific Games Corp. announced its financial results for the fourth quarter ended December 31, 2014 as well as for the whole year.
Back in 2014, the company finalized a deal for the acquisition of Bally Technologies, Inc., a company that specializes in the production of slot machines and other gaming products. The figures posted include the 40 days of operation of the newly acquired entity.
Revenue for the fourth quarter of 2014 reached the amount of $565.8 million. Of these, $301.7 million were generated out of the company’s gaming operations. By comparison, a total of $401.9 million was posted during the same period back in 2013.
Scientific Games also reported a net loss of $47.1 million, or $0.55 per share, in the three-month period ended December 31, 2014, as compared to the sum of $3.5 million, or $0.04 per share, posted in the previous year. The substantial loss was partly attributed to the acquisition of Bally Technologies.
EBITDA amounted to $173.3 million for the period in question. By comparison, the amount of $130.5 million was generated in the last quarter of 2013.
As mentioned above, the gaming company also reported on its financial performance for the twelve-month period ended December 31, 2014.
Company’s revenue increased to reach $1.8 billion, as compared to $1.1 billion posted back in the end of 2013.
Net loss reached $234.3 million, or $2.77 per share. By comparison, the net loss reported for the twelve-month period ended December 31, 2013 amounted to $30.2 million, or $0.36 per share.
Full-year EBITDA increased almost $200 million to reach the sum of $556.4 million.
The CEO and President of Scientific Games, Gavin Isaacs, shared with media that the company will strive to become “the partner of choice for gaming, lottery and interactive customer” in 2015. He pointed out that the acquisition of Bally Technologies will most definitely contribute to this.
Mr. Isaacs added that they will keep on investing in the development of new gaming products and the diversification of their catalogue. Thus, they they intend to help their customers expand their businesses even further.
Apart from this, the executive promised that the company will do its best to implement its integration plans as quickly as possible, which is expected to lead to an increase in free cash flow and the realization of the projected costs savings.
Mr. Isaacs believes that the launch of new services and products that are intended to serve their customers’ needs will certainly help the company “achieve long-term growth”.
