Scientific Games, the global makers of gambling equipment and lottery products posted an official press release Thursday showing a 2.1% uptick in Q4 profits, year-on-year, to a total of $752 million, while their net loss for the same period dropped down by 13% to $111 million. Their full year revenue, on the other hand, grew by 4.5% to $2.88 billion.
The company’s positive revenue growth was, in part, thanks to a 52% increase in social, or B2C (business to consumer) gaming, which amounted to $74.8 million for the period ending December 31st, but also a 37% increase in the table products department. The reported attributable EBITDA (earnings before interest, taxation, depreciation, and amortization) for the same period was $293.5 million, or slightly more than last year’s numbers of $292.9 million.
The gaming segment of Scientific Games, which includes table game products, gaming operations, and machine sales, generated a total of $460.9 million for Q4 of 2016, or 1.7% less than last year when the profits were $469 million. The company reports the decline to be inclusive of an “unfavorable foreign currency impact” of $7.8 million.
Commenting the figures, Scientific Games CEO, Kevin Sheehan, said that the fourth quarter of 2016 marks the fifth consecutive quarter the company is seeing growth, with the year-on-year revenue increase even surpassing the strong performance the company had last year.
CFO, Michael Quartieri also shared comments saying that they are continuing to refine the company’s ways of doing business as to generate a better financial discipline, while also continuing to invest in innovations to further drive growth. He also adds that during Q4 the company has spent $6 million on improvement initiatives which they expect to increase their cash flow even further next year.