Why Shares of Scientific Games Jumped 24.7% in May
Shares of Scientific Games (NASDAQ: SGMS), a provider of gambling products and services, jumped 24.7% in May, according to data provided by S&P Global Market Intelligence, as casinos across the U.S. started to open again. Shares have continued their run in June, too, rising 25.9% near the end of the trading day on Monday, June 8.
Scientific Games reported earnings in May, showing a 13% decline in revenue in the first quarter of 2020 to $725 million and a net loss of $155 million. That didn't impress anyone but was understandable given the shutdown of casinos across the U.S. in March.
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Source Fool.com
