• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Digital likely good 2H growth story for Sci Games: DB

Jul 27, 2020 Newsdesk Latest News, Top of the deck, World  


Digital likely good 2H growth story for Sci Games: DB

The social games segment and other digital content is “likely to produce strong second-half 2020 growth” for casino equipment and lottery services group Scientific Games Corp, said a Friday note from Deutsche Bank Securities Inc.

The institution noted that although Scientific Games’ group-wide second-quarter adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) were “down materially” by circa 64 percent, business performance had been “somewhat offset by the social gaming and digital segments”.

The technology firm had reported its second-quarter numbers on Thursday. Scientific Games said its second-quarter net loss attributable to shareholders widened to US$203 million, from US$77 million a year earlier,

Nonetheless, the group’s specialist digital product unit SciPlay, saw its revenue rise 40.7 percent year-on-year in the three months to June 30.

Deutsche Bank analysts Carlo Santarelli and Steven Pizzella said in their note that there would be “tougher” comparisons ahead for 2021 due to the “stay-at-home outperformance” in terms of consumers using the digital products during the Covid-19 emergency, which saw the temporary shuttering of many casinos globally during the second quarter.

That tougher 2021 comparison outlook would be likely to be “mitigated somewhat” in the United States market “by the return of sports and new states coming online”, the analysts added.

Mr Santarelli and Mr Pizzella added: “Net-net, we expect an environment that remains challenging for Scientific Games, though we believe the second quarter 2020 represented the operational trough.”

But they further noted: “We struggle to garner much comfort in the equity given the financial leverage and our view that free cash flow is likely to remain spotty on a quarterly basis, thereby stunting the efforts to reduce debt.”

Scientific Games’ net debt as of June 30 was nearly US$8.53 billion, from US$8.65 billion a year earlier.


  • tweet
Related articles
  • DB lowers forecast for Macau 2021 GGR after Dec 2020 data
    DB lowers forecast for Macau 2021...

    Jan 04, 2021  

  • Wynn Macau Ltd says beat market Oct-Nov, seeks new notes
    Wynn Macau Ltd says beat market...

    Dec 15, 2020  

More news
  • Wakayama casino RFP deadline affirms 2 suitors still in race
    Wakayama casino RFP deadline affirms 2...

    Jan 18, 2021  

  • CNY 2021 unlikely to boost Macau casinos, say observers
    CNY 2021 unlikely to boost Macau...

    Jan 15, 2021  


Latest News

Wakayama casino RFP deadline affirms 2 suitors still in race

Wakayama casino RFP deadline affirms 2 suitors still in race

Jan 18, 2021  

Japan’s Wakayama prefecture confirmed on Friday (January 15) that no new suitors interested in being private-sector partner for the local government’s tilt at a casino resort, had come forward to...
Read More
CNY 2021 unlikely to boost Macau casinos, say observers

CNY 2021 unlikely to boost Macau casinos, say observers

Jan 15, 2021  

Mass market play record 65pct Macau GGR in 4Q: govt

Mass market play record 65pct Macau GGR in 4Q: govt

Jan 15, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

"The most worrying [thing] is whether [mainland] China will again tighten the issuance of travel visas [for visits to Macau]"

Luiz Lam Kai Kuong

Macau junket investor



Most Popular

  • Sheldon Adelson, self-declared casino industry iconoclastSheldon Adelson, self-declared casino industry iconoclast January 13, 2021
  • Quality fake chips sold online found at Macau casinoQuality fake chips sold online found at Macau casino January 13, 2021
  • CNY 2021 unlikely to boost Macau casinos, say observersCNY 2021 unlikely to boost Macau casinos, say observers January 15, 2021
  • Casino entrepreneur Sheldon Adelson dies aged 87Casino entrepreneur Sheldon Adelson dies aged 87 January 12, 2021
  • Police find US$11m of missed Landing cash, suspects soughtPolice find US$11m of missed Landing cash, suspects sought January 14, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us