SciPlay Reports First Quarter 2020 Results

  • Post published:May 11, 2020
  • Post category:News / iGaming
Sciplay

LAS VEGAS, May 11, 2020 /PRNewswire/ — SciPlay Corporation (NASDAQ: SCPL) (“SciPlay” or the “Company”) today reported results for the first quarter ended March 31, 2020.

First Quarter 2020 Financial Highlights vs. First Quarter 2019

  • First quarter revenue was $118.3 million. Mobile revenue of $101.2 million was up 4%. This growth reflects the ongoing popularity of SciPlay’s core games with particular strength from Jackpot Party Casino® and Monopoly Slots®.
  • Net income increased 127% to $31.1 million, with a net income margin of 26.3%, up from $13.7 million and 11.6%.
  • AEBITDA was $34.8 million, an increase of 39%, and AEBITDA margin was 29.4%, an increase of 830 bps.
  • Net cash provided by operating activities was $23.5 million, an increase of $15.0 million or 176% reflecting strong results and includes a $4.0 million payment related to contingent acquisition consideration.
  • Cash and cash equivalents increased $22.0 million to $132.6 million from the fourth quarter 2019. Available liquidity at quarter end was $282.6 million.

Key Performance Highlights vs. First Quarter 2019

  • Payer conversion rates reached a quarterly record of 6.3%, validating our continued focus on live operations to drive increased player interaction with our games.
  • Average monthly revenue per payer increased 9% to $83.58.
  • Mobile penetration increased 300 basis points to 85%.
  • Jackpot Party Casino is in the Top 5 for the Social Casino Games Category in the latest report by Eilers & Krejcik.
  • The Company joined the World Health Organization (WHO) #PlayApartTogether coronavirus awareness campaign. The campaign encourages healthy physical distancing by bringing special events, exclusive activities, rewards, and inspiration to some of the most popular games in the world.

Josh Wilson, Chief Executive Officer of SciPlay, said, “The first quarter represented another solid performance for us, and we saw particular strength late in the quarter as a result of the stay at home measures across much of the United States. We have seen this momentum continue, and delivered record monthly revenue in April. We will continue to provide a fun outlet for our players while the impact of COVID-19 continues to evolve and locations take steps to reopen and relax stay at home measures. As we look ahead, our team is eager to execute our winning strategy, explore new growth opportunities, keep improving our games and drive enhanced results.”

Mike Cody, Chief Financial Officer of SciPlay, added, “We achieved strong growth in net income and AEBITDA this quarter, which led to continued meaningful cash flow generation. We believe we are well positioned to continue revenue growth and earnings over the coming years, and we couldn’t be more excited by our future prospects and opportunities.”

Earnings Conference Call

SciPlay executive leadership will host a conference call on Monday, May 11, 2020, at 5:30 p.m. ET to review the Company’s first quarter results. To access the call live via a listen-only webcast and presentation, please visit https://www.sciplay.com/investors/ and click on the webcast link under the Investor Information section. To access the call by telephone, please dial: +1 (412) 317-0790 (U.S. and International) and ask to join the SciPlay Corporation call. A replay of the webcast will be archived in the Investors section at www.sciplay.com/investors/.

About SciPlay

SciPlay (NASDAQ: SCPL) is a leading developer and publisher of digital games on mobile and web platforms. We currently offer seven core games, including social casino games Jackpot Party Casino, Gold Fish Casino, Hot Shot Casino and Quick Hit Slots, and casual games MONOPOLY Slots, Bingo Showdown and 88 Fortunes Slots. Our social casino games typically include slots-style game play and occasionally include table games-style game play, while our casual games blend slots-style or bingo game play with adventure game features. All of our games are offered and played on multiple platforms, including Apple, Google, Facebook and Amazon, with some of our games available on Microsoft. In addition to our internally created games, our content library includes recognizable, real-world slot and table games content from Scientific Games Corporation. We have access to Scientific Games Corporation’s library of more than 1,500 iconic casino titles which we integrate across our different games.

You can access our filings with the SEC through the SEC website at www.sec.gov or through our website, and we strongly encourage you to do so. We routinely post information that may be important to investors on our website at www.sciplay.com/investors/, and we use our website as a means of disclosing material information to the public in a broad, non-exclusionary manner for purposes of the SEC’s Regulation Fair Disclosure (Reg FD). The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document, and shall not be deemed “filed” under the Securities Exchange Act of 1934, as amended.