Scientific Games last week announced that it was laying off workers that will save million and return the focus of the company to its core business, according to CEO Kevin Sheehan.
“To position Scientific Games for long-term growth, we are prioritizing our business strategies, streamlining and consolidating our processes and creating a more efficient, seamless organization,” Sheehan said in a statement. “This initiative has resulted in reduced operational costs and the elimination of positions. We appreciate the efforts of those who are leaving Scientific Games and thank them for their contributions.”
While Sheehan didn’t mention any number, GGB has confirmed that the number of jobs at stake are approximately 700, and largely focused in the company’s Chicago office, formerly the WMS headquarters.
Scientific Games has already made substantial cost cuts to realize the synergies of combining Bally Technologies and WMS Gaming.
The company last week reported a net loss of $98.9 million—$1.13 a share—on revenue of $720 million, compared with a net loss of $1.1 billion—$12.52 a share—on revenue of $671.6 million in the third quarter of 2015, the first quarter after the acquisitions were completed. The 7 percent increase came primarily from the company’s interactive division, which produced an 81 percent boost in revenues, and machine sales, which increased 22 percent.
Sheehan led Norwegian Cruise Lines for seven years before taking over for previous CEO Gavin Isaacs, who became the company’s vice chairman.
