Scientific Games Interactive

Scientific Games Q3 Report: Net Loss of More Than £85M

The gaming and technology company reported a net loss of over £85 million in the third quarter. This is against a £13 million profit in Q3 2019.

Scientific Games (SGC), which is known in the iGaming world for its series of Monopoly slots, would have had a far worse quarterly report were it not for their digital operations.

The companies land based casino operations have taken a huge hit this year due to pandemic restrictions. On the other hand, their SciPlay social gaming unit enjoyed a boost due to the pandemic shut-ins. The lottery division also enjoyed a significant boost with revenues and earnings each up 10%.

iGaming operations in New Jersey in particular grew by 22% as the US betting and gambling market continues to open up.

SGC announced that the last three months ending September 30 were down from last year but up from Q2 in 2020.

The pandemic has caused the shutdown of many land based betting related businesses. Digital and online gambling companies, like most online businesses, have watched their revenues grow during the pandemic as people are being forced indoors and online.

 

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