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Scientific Games gaming biz showing signs of turnaround: Union Gaming

Scientific Games is seeing early signs of success in gaming turn around and is likely to build on its recent performance to boost market share, sales volumes and higher win per day, Union Gaming said in a note.

The firm notes that the pandemic is making it hard to identify the turnaround in the business, but there are "some data points that have us more optimistic," analyst John DeCree wrote.

He points to the successful launch of the Kascada cabinet, the first under the new leadership team and strategy, which is performing at 2.5x zone average. This will be followed up by the new Mural cabinet later this year.

"SGMS also ranked #1 in both new premium content with 36 percent share and for-sale-content with 23 percent share in the latest slot surveys."

DeCree points out that the rest of the group's businesses are already seeing growth, with SciPlay revenues up 30 percent in the second half and iLottery also expected to be a long-term growth driver.

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