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Scientific Games Corporation (NASDAQ: SGMS) successfully processed over 50 million bets using its OpenSports technology during the UK's historic Grand National horse racing festival. This event marked the first time the race was held behind closed doors. Notable metrics included 19 million bets on the Grand National itself, reflecting a 60.5% increase compared to 2019. The technology demonstrated 100% platform stability, with peak bets exceeding 57,000 per minute. The company is also advancing its offerings with the launch of OpenArenaTM, a sports content aggregation platform.
Scientific Games Corporation (NASDAQ: SGMS) has launched its SCiQ InLane technology, allowing instant lottery game purchases at Kentucky Kroger stores. This innovative system integrates into retailers' point-of-sale, enhancing the shopping experience by enabling consumers to buy lottery tickets alongside groceries. Currently, the instant games market in the U.S. is valued at nearly $60 billion, with grocery stores contributing $11 billion. This partnership aims to modernize the lottery retail experience and drive proceeds for lottery programs.
Exacta Systems has entered an agreement with Scientific Games to integrate game content from Scientific Games' award-winning cabinets into Exacta's Historical Horse Racing (HHR) system. This partnership is poised to enhance customer engagement in the HHR market, especially in Virginia, where Scientific Games’ top-performing casino games are expected to thrive. CEO Jeremy Stein expressed excitement over the partnership, highlighting its potential in attracting HHR customers. Scientific Games, known for its comprehensive gaming portfolio, aims to deliver engaging content through this collaboration.
Scientific Games reported its Q4 and full-year results for 2020, revealing a revenue decline to $762 million from $863 million year-over-year. The company faced a net loss of $84 million, compared to a loss of $37 million in the prior year. Full-year revenue was $2.7 billion, down from $3.4 billion, largely due to COVID-19 impacts on the Gaming sector, although SciPlay and Digital segments showed significant growth. Overall, net cash from operating activities improved to $159 million, while free cash flow increased to $72 million.
International Game Technology and Scientific Games have signed a cross-licensing agreement for patents regarding cashless slot gaming technologies. This collaboration allows both companies to offer their patented solutions to the U.S. gaming industry. While financial terms remain undisclosed, the partnership aims to enhance the adoption of cashless technology, improving player safety and casino operating efficiencies. IGT's CEO, Renato Ascoli, emphasizes the importance of this technology for modern gaming experiences.
Scientific Games Corporation (NASDAQ: SGMS) announced the release of its fourth quarter and full year results for 2020, scheduled for March 1, 2021, after market close. An investor conference call will follow at 4:15 p.m. Eastern Time, allowing analysts and investors to engage in a Q&A session. To facilitate participation, pre-registration is encouraged, offering a conference passcode for immediate access. The live webcast can be accessed via the Company's website, with a replay available shortly after the call.
SciPlay (NASDAQ: SCPL) announced a donation of over $18,700 to Toys for Tots, resulting in more than 3,700 toys being distributed to underprivileged children. This fundraising effort was supported by over one million monthly active users of the Quick Hit Slots game during a campaign held between December 10 and 26. Players accrued 'magic points,' with every 50,000 points translating into a toy donation. This initiative emphasizes SciPlay's commitment to community support during the holiday season.
Scientific Games Corporation (NASDAQ: SGMS) has partnered with FanDuel Group to launch an online sportsbook in West Virginia, utilizing the OpenBet betting engine from its OpenSports platform. This collaboration marks a significant expansion of their 20-year partnership, following FanDuel's existing operations in the state since 2019. The new sportsbook aims to enhance the betting experience for users, with FanDuel's CEO emphasizing the platform's global capabilities. This rollout is seen as a critical step in establishing FanDuel as a leading sportsbook in the U.S.
Scientific Games Corporation (NASDAQ: SGMS) is set to supply lottery instant games, e-instant digital games, and WAVE retailer terminals to SISAL S.p.A. in Morocco starting this month. This marks a significant move for Scientific Games to expand its presence in the growing African lottery market. The partnership involves the integration of the Open Gaming System and advanced technology to enhance SISAL’s lottery operations. Having collaborated with SISAL since 1997, Scientific Games continues to support its strategic initiatives, including the operation of the national lottery in Morocco.
Scientific Games Corporation (NASDAQ: SGMS) has secured a five-year contract from the Massachusetts State Lottery Commission, extending its long-standing partnership. The deal focuses on supplying instant games, second chance promotions, and digital engagement initiatives. In FY 2020, Scientific Games generated $3 billion out of the Mass Lottery's $3.6 billion in total instant game retail sales. This year, they have facilitated an 11.3% growth in instant game sales, amounting to $99.7 million. The partnership underscores the Lottery's position as the top instant game lottery worldwide.
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