SciPlay, the publicly traded social gaming subsidiary of Scientific Games Corp., reported $5.3 million in net income for the first quarter of 2021, up from net income of $4.4 million or 19 cents per share, compared to Q1 2020.
Revenue rose 27.9 percent to $151 million from $118.3 million and topped the $144.6 million forecast of analysts.
Adjusted earnings before interest, taxes, depreciation and amortization, a cash flow measure that excludes one-time costs, rose 31.9 percent to $45.9 million from $34.8 million.
In a conference call with analysts and journalists, SciPlay CEO Josh Wilson said the company remains focused on improving its social casino games portfolio. SciPlay thrived when players turned to online games during and after lockdowns caused by the Covid-19 pandemic.
“The good news is as things have opened up as the world has continued to get back to normal, we’ve seen actually more engagement inside of our games quarter-over-quarter,” Wilson said. “We’re actually seeing our games take over, and people are playing them as a form of entertainment whether or not they’re going back to work.”
