scientific games corp-a (SGMS) Key Developments
Scientific Games Wins Contract with National Lottery of Norway
Jun 8 15
Scientific Games Corporation announced that the Company has signed a new contract with Norsk Tipping, the National Lottery of Norway, to provide instant games and related marketing services. Awarded through a competitive procurement process, the three-year contract began January 29, 2015 and may be extended by the Lottery for an additional term. Scientific Games currently supplies Norsk Tipping with gaming system and retail technology.
NYX Gaming Group Extends Poker Distribution Agreement with Scientific Games and Signs New Agreement to Distribute the Scientific Games Online Casino Offering through NYX OGS
May 29 15
NYX Gaming Group Limited announced the extension of its Poker distribution agreement with Scientific Games, enabling Scientific Games to distribute the networked NYX Poker offering in 'free-to-play' mode to its land-based customers across the United States. In addition, NYX and Scientific Games Interactive (SG Interactive) have signed an agreement under which NYX will distribute content from the SG Interactive Bally, Shuffle Master, Barcrest and Williams game studios in online wagering formats to its regulated NYX OGS partners worldwide.
Scientific Games Corporation to Provide Penn National Gaming with Broad Suite of Systems, Games Solutions for First Massachusetts Casino
May 27 15
Scientific Games Corporation announced that Penn National Gaming's new Plainridge Park Casino, Massachusetts' first casino, located in Plainville, Mass., will open with a broad suite of the company's systems and games solutions to drive casino revenue and operating efficiencies and empower an exceptional gaming experience for players. Plainridge Park Casino, scheduled to open in June 2015, selected Scientific Games as its exclusive partner for casino-management, player-tracking, and rewards systems. The Bally ACSC and CMS systems will connect Plainridge's 1,250 gaming devices, each of which includes the BallyiVIEW or iVIEW Display Manager (DM) player-user-interface to provide players with convenient touchscreen access to self-service beverage ordering, club account information, second-chance bonuses, rewards, and other features. Across the casino's high-speed, networked floor, the BallyElite Bonusing Suite (EBS) will deliver Massachusetts' new player base entertaining, exciting second ways to win through its iVIEW-enabled suite of interactive secondary bonus applications and in-game tournaments. The new casino will also deploy a Bally play-management system, the first automated systems-based responsible gaming technology in the U.S. Integrated with the BallyACSC system and iVIEW network, this solution enables participating players the voluntary option of identifying how much coin-in they want to spend. The system then provides notification when the player has reached her or his pre-determined limit, and asks the player to acknowledge the notification. Plainridge Park Casino will open with Scientific Games video, spinning reel, and specialty game platforms including BLADE, Fusion, and the Pro Series V22/22, V27/27, V32, Stepper and Wave.
Scientific Games Corporation Reports Consolidated Unaudited Earnings Results for the First Quarter Ended March 31, 2015; Revised Capex Guidance for 2015
May 7 15
Scientific Games Corporation reported consolidated unaudited earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenue of $658.7 million compared with $388.1 million for the same period last year. Operating income was $18.1 million compared with operating loss of $12.1 million for the same period last year. Net loss before income taxes was $148.7 million compared with operating loss of $37.1 million for the same period last year. Net loss was $86.4 million or $1.01 diluted per share compared with operating loss of $45.0 million or $0.53 diluted per share for the same period last year. Net cash provided by operating activities was $77.8 million compared with $83.8 million for the same period last year. Capital expenditures was $72.1 million compared with $59.6 million for the same period last year. Revenue was up $271 million due to the inclusion of Bally and growth of interactive businesses, partly offset by lower revenues from legacy gaming business and lottery business. Importantly, the cost structure of the organization is beginning to reflect savings from the initial integration actions. On the pro forma basis, attributable EBITDA was only down $7 million on a $76 million decline in revenues.
Given lower capital spending in the first quarter and current outlook, the company is lowering its expected CapEx range for 2015 by approximately $25 million, and now expect to invest $300 million to $325 million in capital expenditures. This includes approximately $15 million to $25 million of integration-related capital expenditures, as well as planned investments for growth opportunities, such as the 5,000 VLTs in Greece and other gaming operations opportunities.
Scientific Games and Penn National Gaming Enter into Agreement to Deploy SG Universe Interactive Product Suite at Four Penn National Properties
May 5 15
Scientific Games Corporation and Penn National Gaming Inc. announced an agreement whereby Penn National will deploy the Scientific GamesSG Universe product suite at four Penn National properties. The agreement marks Penn National's entry into social gaming while significantly expanding player access to Scientific Games'Play4Fun social casino platform and its Mobile Concierge next-generation marketing capabilities.