SciPlay’s revenue for Q2 was $160 million, up 4% from last year.
Sciplay has reported revenue of $160.1m for the second quarter of 2022, an increase from last year’s figure by 4%.
The company reported net income of $32.3 million, compared to 37 9 in the prior year which was due to an increase on operating expenses that cost them more than they made off with last time around . AEBITDA also went up by about 11%. However their cash flow from operations came back down slightly – going from a positive number at first glance after adding new investments into play during this past quarter’s period ending September 30th 2022 but turning out less robust when you take away all those funds coming right back out again just before Christmas.
“I’m pleased to say that we’re making good progress”, said CEO Josh Wilson. “Our teams have been laser focused on executing the strategy set out during our investor day, and taking advantage of any opportunities they see ahead.”
“In the quarter, we outperformed our social casino competitors with a healthy core business and continued integration work on Alictus. During this seasonally soft period for games industry growth overall it’s been great to see that even though things are slower than usual now – after such amazing results last year-our efforts have not gone unnoticed as you can see from these new game releases!”
SciPlay recently noted several highlights within the quarter, including Quick Hit Slots achieving second consecutive record revenue. The company also saw mobile penetration increasing two percentage points from last year to 90% and average Monthly Paying Users (MPU) going up by 0.6 million people compared with only 500 thousand in Q3 2021!
The company delivered another solid quarter with Sciplay, posting year-over and sequential growth. Daniel O’Quinn said that their investments in initiatives for increasing engagement are paying off as they continue to see strong metrics around monetization.”
“We were able to take a significant step into the future by investing in our people, while also returning capital back towards shareholders.
SciPlay’s shares are currently down 0.48% today, but they’ve been trading lower for most part of this year after reporting earnings that fell short compared to last quarter when revenue grew 5%.
Sciplay reported second-quarter 2022 income from operations ($610M vs $590M) coupled with anAdjusted EBITDA. Loss from COVID/ trailing twelve months(ATIVE)-$93 millions darker than expected due largelyto higher litigation expense incurred during Q1 2022; however these factors haven’t affected our fair value assessment which remainsunchanged at current levels despite significant fluctuationsin share prices overthe past six weeks since announcingfirst half results.
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