U.S. gaming technology provider Scientific Games has cut its net losses by 31.5 percent in 2017, thanks to the solid performance of its three business segments.
In a filing before the U.S. Nasdaq, Sci Games announced that its net loss dropped to $242.3 million in 2017 from $353.7 million recorded two years ago, as the company’s operating income improved while interest expenses shrunk.
Data showed that Sci Games raked in $3.08 billion in revenue last year, an increase of 7 percent or $200.2 million. Its adjusted earnings before interest, taxation, depreciation, and amortization climbed 11 percent to $1.22 billion, compared with $1,103.6 million in the prior year.
Meanwhile, Sci Games’ operating income grew more than double to $393.1 million in the 12months ending December 31, 2017, which included the $69.0 million goodwill impairment.