Scientific Games on Tuesday heralded the completion of an initial public offering (IPO) of its social gaming business as the company says it is intent on continuing to pay down debt.
Scientific Games also reported first-quarter revenues of $837m, up 3 percent from $812m in the year-ago period, reflecting growth in its lottery and social businesses. Net loss was $24m, or 26 cents per share, compared with $202m, or $2.24 per share, in the first quarter of 2018.
The prior year net loss included a $93m charge taken in February 2018 to refinance debt.
The Las Vegas-based gaming and lottery provider paid down $145m of debt in the first quarter.