After finishing its $631 million acquisition of online casino games innovator NYX Gaming Group earlier this month, American gaming machine innovator Scientific Games Corporation has now announced the completion of its previously-agreed takeover of Tech Art Incorporated.
Las Vegas-based Tech Art Incorporated is a supplier of hole-card readers utilized in blackjack and Scientific Games Corporation declared yesterday that the purchase for an undisclosed amount means that it can now utilize its latest acquisition’s MaxTime4H innovation along with its Bet the Bust and Super Fun 21 proprietary table games.
“We are excited to welcome Tech Art Incorporated into the Scientific Games Corporation family,” read a Monday statement from Derik Mooberry, Gaming Chief Executive for Scientific Games Corporation. “This acquisition is yet another example of our continued investment in solutions that help the company better partner with our casino customers and offer the broadest portfolio of innovative products in the industry.”
Yesterday also saw Scientific Games Corporation release an update on its predicted financial results for the three months to the end of December and showing that it expects to record a 9% increase year-on-year in consolidated revenues to a figure of between $820 million and $825 million.
Las Vegas-headquartered Scientific Games Corporation additionally explained that it anticipates recording a fourth-quarter 2017 net loss of around $40 million to $50 million, which would compare favorably to the $111 million deficit seen for the same period in 2016. Its attributable earnings before interest, tax, depreciation and amortization for the three months are expected to have risen by approximately 9% year-on-year to stand at about $320 million.
For the full twelve months of 2017, Scientific Games Corporation moreover predicted yesterday that its consolidated revenues are expected to stand at roughly $3.08 billion, which would be a swell of 7% year-on-year, and be accompanied by an over 10% boost in its annual attributable earnings before interest, tax, depreciation and amortization to at least $1.22 billion.
“Our preliminary results for the fourth quarter of 2017 reflect our focus on generating top-line growth and ongoing improvements across our gaming, lottery and interactive operations,” read a statement from Kevin Sheehan, President and Chief Executive Officer for Scientific Games Corporation. “I am proud of the dedication and success achieved by the collaborative efforts of our Scientific Games Corporation colleagues around the globe who continue to empower our customers and deliver success for all our stakeholders.”