{"id":232,"date":"2024-06-27T19:01:00","date_gmt":"2024-06-27T16:01:00","guid":{"rendered":"https:\/\/winportcasinonodepositbonus.icu\/2024\/06\/27\/scientific-games-returns-to-profitability-in-2021\/"},"modified":"2024-06-27T19:01:00","modified_gmt":"2024-06-27T16:01:00","slug":"scientific-games-returns-to-profitability-in-2021","status":"publish","type":"post","link":"https:\/\/winportcasinonodepositbonus.icu\/2024\/06\/27\/scientific-games-returns-to-profitability-in-2021\/","title":{"rendered":"Scientific Games Returns to Profitability in 2021"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/7jpHIRpP-yw\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Scientific Gaming, soon to be rebranded as Light &#038; Wonder, returned to profitability in the 2021 fiscal year, with earnings increasing by 26.7% to $371 million (\u00a3279 million\/\u20ac334 million).<\/p>\n<p>Earnings for the twelve months ending December 31, 2021, were $2.15 billion, up from $1.7 billion in the previous fiscal year.<\/p>\n<p>Service earnings accounted for $1.64 billion of the total, up 30.4% year-over-year, while product sales earnings reached $511 million, up 16.1% year-over-year.<\/p>\n<p>Breaking down this performance further, gaming remains the core of the group&#8217;s operations, with earnings for the year reaching $1.32 billion, up 42.7% year-over-year. Scientific Gaming stated that this was driven by growth in its North American premium gaming operations, as well as the post-COVID market rebound.<\/p>\n<p>Earnings from the SciPlay social gaming division grew modestly by 4.1% to a record $606 million, driven by what the group called &#8220;strong core business,&#8221; while iGaming earnings also hit a new high of $226 million, up 18.3%, thanks to strong performance in the US market. <\/p>\n<p>During the 2021 financial period, Scientific Games experienced a dynamic year, with the most significant event transpiring in October when the enterprise reached a definitive agreement to sell its lottery operations to Brookfield Business Partners, a private equity firm, for a sum of $6.05 billion.<\/p>\n<p>Should the transaction proceed as anticipated, Scientific Games will divest its entire lottery enterprise, encompassing instant and terminal-generated lottery games, sports betting, lottery systems and retail technology, and online lottery markets, and will concentrate on the gaming sector.<\/p>\n<p>Also in 2021, Scientific Games agreed to sell its sports betting division, OpenBet, to Endeavor Group, a global talent and media agency holding company.<\/p>\n<p>Other noteworthy events included the acquisition of Sideplay Entertainment, an instant-win content studio, ACS&#8217;s PlayOn cashless gaming solution, Authentic Gaming, a casino solutions provider, and Elk Studios, a Swedish game developer.<\/p>\n<p>Towards the conclusion of the period, Scientific Games withdrew its proposal to acquire the remaining 19% stake in its SciPlay division in an all-stock transaction, following the company&#8217;s decision to shelve the proposition in July 2021.<\/p>\n<p>Adjusted EBITDA from continuing operations amounted to $493 million, representing a 47.4% increase from the preceding year.<\/p>\n<p>On the expense side this year, total operating expenses rose by 5.3% to $2.04 billion. Finance-related costs reached $404 million, a decrease of 27%. <\/p>\n<p>SciPlay, a research-based gaming company, experienced a 20.8% boost in earnings during the final quarter of 2022, reaching $580 million, a 20.8% leap compared to the same period in the previous year. Game earnings skyrocketed by 30.1% to $372 million, while SciPlay earnings climbed by 4.8% to $154 million. Interactive gaming earnings rose by 14.9% to $54 million. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) climbed by 67.4% to $216 million.<\/p>\n<p>Operational expenses increased by 17.8% to $577 million, while net financial costs were $95 million, resulting in a pre-tax deficit of $92 million, compared to a profit of $155 million in the same period last year.<\/p>\n<p>The firm benefited from a $154 million tax credit in the quarter, leading to a net profit from continuing operations of $62 million, compared to a loss of $143 million in the final quarter of 2020. <\/p>\n<p>Scientific Games declared a gain of $95 million for the period, which incorporated a $37 million gain from ceased operations and a $34 million loss from non-controlling entities. This signifies a significant improvement from the $90 million loss they reported last year.<\/p>\n<p>The company&#8217;s head, Barry Cottle, expressed gratitude to his team for their dedication, stating they were accountable for the company&#8217;s achievements in 2021. He also emphasized the company&#8217;s robust performance this quarter, which encompassed double-digit growth in income and earnings.<\/p>\n<p>The company also declared a name change to &#8220;Light &#038; Wonder&#8221; to mirror their transition towards gaming services. Cottle stated the new name reflects the enthusiasm and inspiration they aspire to bring to their endeavors. He also mentioned they are eager to concentrate on crafting enjoyable experiences for their players in the future. <\/p>\n<p>SciPlay, a top developer and publisher of casual mobile games, has bought Alictus, a global leader in casual mobile game development and distribution, in a full-cash transaction.<\/p>\n<p>SciPlay will pay $100 million for an 80% share in the company and will purchase the remaining 20% of Alictus over the next five years in equal payments, for a total of $0 to $200 million.<\/p>\n<p>Alictus, established in 2013 and based in Turkey, has created and released a number of games, with over 300 million downloads to date, including Candy Challenge 3D, Rob Master 3D, and Deep Clean Inc.<\/p>\n<p>Alictus will continue to be managed by its current leadership team, including co-founders Emre Ta\u015f and Ecem Baran. SciPlay also stated it expects to keep Alictus&#8217; headquarters and studio in Turkey.<\/p>\n<p>&#8220;We are thrilled to continue our growth in the casual space and partner with a leading company like Alictus, which has a strong, unique culture and a proven history of producing top-ranking games,&#8221; said Josh Wilson, CEO of SciPlay.<\/p>\n<p>&#8220;The hyper-casual market is a natural extension for SciPlay, with game mechanics and player demographics similar to the casual genres we already operate in and continue to expand.&#8221; <\/p>\n<p>This agreement provides SciPlay with an entry point into the market, boasting a talented team and a robust collection of casual games. This allows them to expand into the in-app advertising sector and become a participant in the rapidly expanding mobile advertising landscape.<\/p>\n<p>Alictus&#8217;s CEO and co-founder, Ta\u015f, stated, &#8220;Alictus has established itself as a leading casual gaming company globally, and my partner and COO, Ecem Baran, and I are thrilled to join forces with SciPlay at this pivotal moment.<\/p>\n<p>&#8220;Leveraging SciPlay&#8217;s exceptional live service capabilities, data analytics tools, and resources, we can accelerate the development of popular games and connect with a wider player base.&#8221; <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Scientific Gaming, soon to be rebranded as Light &#038; Wonder, returned to profitability in the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Light &amp; Wonder: Gaming Giant Back in the Black<\/title>\n<meta name=\"description\" content=\"Scientific Gaming, now Light &amp; Wonder, saw a strong 2021, with earnings soaring 26.7% to $371 million. 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