SG Corp Drives A Hard Q3 Bargain
During a time renowned to have posed new and particularly daunting challenges to many, big-time entertainment player and industry force Scientific Games Corporation has lifted the veil from its financial books for Q3 and revealed to its industry mates a study of what broad-based growth looks like. The corporation has been going at it full-force and its labour of love is starting to pay off. This is evident from the fact that SG Corp is now able to report stunning growth across its entire spectrum of in-house sectors, save for one area of business only, being that of gaming operations.
But the fact that gaming operations experienced a $1 million loss was cushioned by the fact that SG’s Digital product offerings department actually grew by a phenomenal 7%. This rate of growth is nearly unheard of, especially when talking one of the fastest-growing sub-sectors in the casino and games industry today.
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The bigger picture is an impressive one to say the very least. When comparing Q3 on a year-on-year basis with 2018, a 4% overall growth in revenue is at the order of the day. What this translates to in actual revenue income figures is not a dollar short of a fantastic $855 million for Q3. Compared to last year’s $821 million, its quite the revenue hike indeed.
Part of why the previous year’s Q3 did not exactly cut the mustard in terms of reasonable returns and expectations had a great deal to do with the expenses incurred as a result of the Shuffle Tech legal lawsuit dispute. But with the ordeal now for the most part behind SG Corp, the company is again able to focus on actual real-time operations and revenue growth.
On the gaming machine front, a definite up swing has been noticeable too. This is largely the result of the stellar popularity enjoyed by the corporation’s proprietary Twinstar J43 and Twinstar Wave XL games cabinets. Replacement orders from the US and Canada increased by some 24% for the year, when compared to 2018.
Opening and expansion units did their bit for business revenue too, with the state of Oklahoma topping the new sales list at a total order of 600 new and expanded units. Many units were sold into the regions of California and Illinois too, what with the California market being a brand new opening. All in all, it’s a been a period of growth and success worthy of not only celebrating but also of serving as a solid foundation for further growth and success.