Gaming giant has reduced monthly costs by more than $100million and is confident it can ride out the Covid-19 storm. <\/p>\n\n\n\n\n\n\n\n
US.- Scientific Games<\/em><\/strong> remains defiant in its liquidity position as it battles the impact of the global Coronavirus pandemic.<\/p>\n\n\n\n The global corporation has already made US$100million in quarterly cost savings and has available cash of $680million in its reserves.<\/p>\n\n\n\n SciPlay, in which the company has an 82 per cent interest, also has a strong liquidity position with cash on hand of approximately $130million as of March 31, 2020. <\/p>\n\n\n\n In addition to this, there is no outstanding debt and $150million available under its Revolving Credit Facility.<\/p>\n\n\n\n According to the figures released today, monthly costs were reduced by a combination of capex, workforce and pay reductions, as well as furloughs, from a prior range of between $300million to $330million.<\/p>\n\n\n\n Scientific Games CEO, Barry Cottle, said: “We continue to reduce our costs so that that we can position our company to be an even stronger competitor as the industry begins to recover.”<\/p>\n\n\n\n “We remain committed to providing our best in class products and services to our customers across lottery, iGaming, sports betting and land-based casinos while innovating for the future. <\/p>\n\n\n\n “The diversity of our business, serving customers across the industry and around the globe, gives us unique strength in these challenging times.”<\/p>\n","protected":false},"excerpt":{"rendered":" Gaming giant has reduced monthly costs by more than $100million and is confident it can ride out the Covid-19 storm.<\/p>\n","protected":false},"author":2,"featured_media":2642,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Scientific Games has implemented aggressive cost-reduction strategies, cutting monthly expenses by over $100 million and achieving $100 million in quarterly savings, to bolster its liquidity amidst the COVID-19 pandemic. With $680 million in cash reserves and SciPlay's strong financial position, the company aims to emerge as a stronger competitor post-recovery, leveraging its diversified portfolio across iGaming, sports betting, lottery, and land-based verticals.","focusai_entities":"Scientific Games, SciPlay, Barry Cottle","focusai_location":"US","focusai_target_profile":"ceo_executive (1.0), operator_casino (0.9), product_ux (0.7), tech_data (0.7), investor_analyst (1.0), supplier_vendor (0.9), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Post-COVID Growth Strategy","query":"What specific market segments or gaming verticals does Scientific Games anticipate will drive the most significant revenue recovery and growth post-pandemic, and what strategic investments are planned to capitalize on these opportunities?"},{"label":"Long-term Cost Structure","query":"Beyond immediate pandemic-driven reductions, what permanent adjustments to Scientific Games' operational cost structure are being implemented to enhance long-term profitability and competitive advantage?"}],"footnotes":""},"categories":[161,16331,163],"tags":[1897],"class_list":["post-5601","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-news","category-elsewhere-news","category-finance-news","tag-igaming"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5601","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=5601"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5601\/revisions"}],"predecessor-version":[{"id":777008570,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5601\/revisions\/777008570"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/2642"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=5601"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=5601"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=5601"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}