Kevin Sheehan, CEO and President of Scientific Games, said the company is well positioned to continue to grow and build on the success attained in the past year.
Total revenue increased 7% to US$3.1 billion, while adjusted EBITDA increased 11% to US$1.2 billion in the year.
Looking into fourth quarter results, Scientific Games reported a increase in gaming machine sales revenue, up 12% year-on-year, largely due to a 23% increase in shipments of U.S. and Canadian replacement gaming machines.
Gaming systems revenue also increased by 31%, primarily due to the initial installations of a new system to casinos in the province of Alberta.
Table product revenue however decreased, reflecting a decline in sales of new shufflers and other table game products from the record sales level a year ago.
Michael Quartieri, chief financial officer of Scientific Games, commented: "Our improved performance and strong future prospects enabled us to successfully refinance a portion of our capital structure in 2017 and 2018 that significantly lowers our cost of capital and increases future cash flow.”
“We believe there is potential to achieve further improvements in 2018 and beyond, and we remain committed to our path of deleveraging and growing our business," he added.
Source: GMB
