SG 2020 revenue declines 19.9% amid lower product sales
Scientific Games saw revenue decline 19.9% to $2.72bn, as product sales collapsed amid land-based closures, but this was partially offset by growth in social and igaming revenue.
Services brought in $1.59bn of this revenue, down 12.7%, while product sales revenue was down 44.4% to $553m and instant product revenue declined 1.9% to $578m.
Scientific Games’ operating expenses slipped slightly, by 5.4% to $2.70bn, just marginally lower than revenue.
This included costs of sales for services of $531m, for product sales of $349m and for instant products of $280m.
Selling, general and administrative expenses were down 0.9% to $701m, research and development costs declined to $166m and depreciation, amortization and impairment expenses for tangible assets were down to $554m.
However, the business also incurred a new $54m expense for goodwill impairment, while restructuring and other costs were up 139.3% to $67m.
This led to operating income of just $22m, down 96.0%.