Scientific Games released its financial results for the full year period showing a net loss of US$118 million on somewhat higher total revenues. Overall, there was still an improvement over the previous year period.
Annual revenues advanced US$37 million to US$3.4 billion, a 1.1 percent increase.
The net loss of US$118 million compared to losses of US$234 million the prior year.
CEO and President of Scientific Games Barry Cottle said, “This past year, we made great strides in developing the best games, attracting industry leading talent, and improving our capital structure. I’m confident we have the right team in place to reach our goal to be the market leader across land-based gaming, lottery, sports and digital gaming driven by leading content and the platforms that enable play anywhere and anytime. Our recent contract and deal wins across our businesses, and the globe, highlight that we are on the right path.”
This Dossier results from the “Life After POGOs” editorial project by Asia Gaming Brief which culminated with a pop-up digital forum on 9th December to discuss potentials ramifications in the industry.
South Korea said on Sunday it will extend social distancing measures introduced to try to curb the spread of the novel coronavirus pandemic for another six days, to Jan. 3 after reporting a further 970 cases on Saturday.
Predicting a spike in Covid-19 cases in January, Goa state Health Minister Vishwajit Rane has appealed to tourists to take precautions and to observe government appeals to wear masks and practice social distancing.
Operators in Entertainment City had already begun to complain about the impact of rising competition on their margins even prior to the Covid-19 crisis. Now, with the outlook highly uncertain due to border closures and the erosion of the VIP sector, they may have to contend with three new developments pressing ahead.
Over the years, many of the answers have been remarkably prescient in their forecasts for the near-term direction of Asia’s gaming industry. However, we can safely say that no one came anywhere close to guessing
what 2020 may have had in store.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.