Why Scientific Games' Shares Plunged 19% Wednesday
Shares of Scientific Games (NASDAQ: SGMS), a company offering gaming systems, content, and services for sports betting platforms, and lottery games, among other things, were plunging more than 19% Wednesday morning after disappointing fourth-quarter results.
Fourth-quarter revenue was $863 million, a 2.6% decline compared with the prior year and below analysts' estimates of $895 million. Fourth-quarter earnings per share checked in with a $0.46 loss, and consolidated adjusted EBITDA also declined from the prior year to $328 million, driven by lower lottery and gaming adjusted EBITDA.
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Source Fool.com
