SciPlay Corporation - SCPL STOCK NEWS

SciPlay Corporation (NASDAQ: SCPL) reported a robust first quarter of 2022, achieving revenues of $158.0 million, marking a 5% year-over-year increase and the second highest on record. The company saw a record payer conversion rate of 8.9% and sequential growth in both Monthly Active Users (MAU) and Monthly Paying Users (MPU) for the first time in six quarters. Despite a net income drop to $32.0 million from $37.9 million due to rising operating expenses, cash flow from operations increased to $36.6 million. The company authorized a $60 million share repurchase program to enhance shareholder value.

SciPlay Corporation (NASDAQ: SCPL) has appointed three new directors to its board, expanding its membership from eight to nine. Effective May 1, 2022, the new appointees are April Henry, Charles “CJ” Prober, and Constance “Connie” P. James, who bring extensive experience from the technology, gaming, and digital entertainment sectors. April Henry is a strategic consultant and former Wall Street analyst, CJ Prober has held senior roles at Electronic Arts and GoPro, while Connie James is a seasoned financial executive currently serving as CFO of Light & Wonder, SciPlay's largest shareholder.

SciPlay Corporation (NASDAQ: SCPL) will announce its financial results for Q1 2022 on May 10, 2022, after market close. An investor conference call will be held at 5:30 p.m. Eastern Time the same day to discuss the results. Participants can pre-register for immediate access to the call. The call can also be accessed via telephone or webcast, with a replay available for one week. SciPlay specializes in digital games across mobile and web platforms, offering popular titles like Jackpot Party Casino and Gold Fish Casino.

SciPlay Corporation (NASDAQ: SCPL) has appointed Nick Earl to its Board of Directors, effective April 15, 2022. With over 20 years of experience in gaming, including a recent tenure as CEO of Glu Mobile, Earl's addition aims to enhance SciPlay's strategy in mobile gaming. The Board now consists of six members. Executive Chairman Barry Cottle expressed confidence in Earl's ability to advance SciPlay's mission to lead in mobile game development. This strategic move could benefit shareholder value through expanded market presence and gaming expertise.

SciPlay Corporation (NASDAQ: SCPL) announced that CEO Josh Wilson will participate in the Deutsche Bank 30th Annual Media, Internet and Telecom Conference in Palm Beach, Florida, on March 14 at 11:05 a.m. ET. Investors can listen to the live webcast at SciPlay's investor website. A replay will also be available after the event. SciPlay is known for its social casino games, including Jackpot Party Casino and Gold Fish Casino, which are accessible on various platforms.

SciPlay Corporation (NASDAQ: SCPL) reported record revenue of $606 million for 2021, a 4.1% increase from 2020. The fourth-quarter revenue reached $154.4 million, up 5.0% year-over-year. Strategic initiatives, including Project All-Star, enhanced player engagement, leading to a payer conversion rate of 8.9%. However, net income dropped to $12.2 million in Q4, down from $31 million due to a $24.5 million settlement related to a class-action lawsuit. Despite this, cash and cash equivalents rose to $364.4 million.

SciPlay Corporation (NASDAQ: SCPL) announced an acquisition of Alictus, a hyper-casual game developer, for $100 million. The deal allows SciPlay to acquire 80% immediately and the remaining 20% over five years based on revenue targets. This acquisition aims to diversify SciPlay's portfolio, enhancing its player base by approximately 28 million MAUs and 1.8 million DAUs. It positions the company to capitalize on the $13 billion mobile in-game advertising market and strengthens its capabilities in the fast-growing hyper-casual game sector.

SciPlay Corporation (NASDAQ: SCPL) will release its financial results for Q4 and full year ended December 31, 2021, on March 1, 2022, after market close. An investor conference call will follow on March 2, 2022, at 8:30 a.m. ET. Participants can pre-register for immediate call access. SciPlay is a key developer and publisher of digital games, offering popular social casino and casual games across various platforms. For more details, visit their investor news section.

A special committee of independent directors at SciPlay Corporation (NASDAQ: SCPL) announced the termination of discussions with Scientific Games Corporation (NASDAQ: SGMS) regarding a proposal to acquire SciPlay's publicly traded shares. The proposal, made in July 2021, involved an exchange of shares, but after negotiations, the Special Committee found the terms unsatisfactory and declined the offer. Despite this setback, both parties express confidence in SciPlay's growth potential and its leading digital gaming platforms.