{"id":99001,"date":"2019-02-22T08:13:15","date_gmt":"2019-02-22T16:13:15","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=99001"},"modified":"2019-02-22T08:13:15","modified_gmt":"2019-02-22T16:13:15","slug":"scientific-games-beats-q4-projections-thanks-to-151-5-million-settlement","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/scientific-games-beats-q4-projections-thanks-to-151-5-million-settlement\/","title":{"rendered":"Scientific Games Beats Q4 Projections Thanks to $151.5 Million Shuffle Tech Settlement"},"content":{"rendered":"

Casino equipment and gaming solutions giant Scientific Games surprised analysts on Thursday by booking Q4 net profit of $206.8 million, reversing a net loss of $43.1 million for the corresponding period a year earlier. SG shares climbed almost 12 percent on the Nasdaq in early trading following the announcement.<\/p>\n

\"Scientific
In December, slots giant Scientific Games managed to shave almost $160 million off a payment imposed by a federal antitrust suit ruling, which helped to send it back to black. (Image: Las Vegas Review-Journal)<\/figcaption><\/figure>\n

SG was able to buck expectations thanks to higher revenue and greater operational efficiencies — operating income more than tripled to $312.2 million — but also by negotiating a settlement<\/a> to a federal patent infringement lawsuit<\/a> that had the company on the hook for a staggering $315 million.<\/p>\n

SG had vowed to appeal the verdict but instead in December agreed to pay $151.5 million to settle the case.<\/p>\n

In August last year, a federal judge ruled that SG had launched \u201cfrivolous lawsuits\u201d to assert \u201csham patents\u201d in a bid to monopolize the market in automatic card-shufflers.<\/p>\n

Shuffle Tech Lawsuit<\/strong><\/h2>\n

The case centered on the company\u2019s subsidiary SHFL Entertainment — previously Shuffle Master — which SG acquired in 2014 when it bought Bally Technologies for $5.1 billion.<\/p>\n

In 2012, SFHL Entertainment filed a patent infringement lawsuit against three companies that had collaborated on an automatic card-shuffler product for casinos — Shuffle Tech, Aces Up Gaming, and Poydras-Talrick Holdings.<\/p>\n

\n

The companies were forced to withdraw their product, but later filed against SG, claiming SHFL Entertainment knew its patents were invalid and unenforceable.<\/p>\n<\/div>\n

The court agreed and promptly tripled the $105 million figure the companies had been asking for in damages.<\/p>\n

Nevertheless, SG said net loss for the whole of 2018\u00a0was\u00a0$352.4 million, which was largely driven by\u00a0$253.4 million\u00a0in restructuring and other charges — primarily consisting of the\u00a0$151.5 million\u00a0payment to resolve the court case.<\/p>\n

Readying for IPO <\/strong><\/h2>\n

Now with unpleasant litigation in the rear-view mirror, SG is gearing up for a likely IPO for its social gaming business. The company said it had submitted a draft registration statement earlier this month to the Securities and Exchange Commission in preparation.<\/p>\n

Capital raised by the flotation will be used to pay down part of its $8 billion debt, which still lingers from the Bally\u2019s acquisition and other M&A activity.<\/p>\n

\u201cWe are building momentum and continuing to grow our business while at the same time operating more efficiently,\u201d Scientific Games CEO Barry Cottle said in an official statement \u201cThe entire organization is enthused about 2019 and focused on helping our customers win, which will drive our free cash flow and create meaningful value for our shareholders.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Casino equipment and gaming solutions giant Scientific Games surprised analysts on Thursday by booking Q4 net profit of $206.8 million, reversing a net loss of $43.1 million for the corresponding period a year earlier. SG shares climbed almost 12 percent on the Nasdaq in early trading following the announcement. SG was able to buck expectations […]<\/p>\n","protected":false},"author":36,"featured_media":99005,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,60,16693],"tags":[],"acf":[],"yoast_head":"\nScientific Games Beats Q4 Projections Thanks to $151.5 Million Settlement<\/title>\n<meta name=\"description\" content=\"Scientific Games books surprise net profit after negotiating a big discount on multimillion-dollar federal antitrust lawsuit.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Scientific Games Beats Q4 Projections Thanks to $151.5 Million Settlement\" \/>\n<meta property=\"og:description\" content=\"Scientific Games books surprise net profit after negotiating a big discount on multimillion-dollar federal antitrust lawsuit.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/scientific-games-beats-q4-projections-thanks-to-151-5-million-settlement\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2019-02-22T16:13:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/02\/SG.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1050\" \/>\n\t<meta property=\"og:image:height\" content=\"700\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Philip Conneller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@casinoorgphilc\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Philip Conneller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/scientific-games-beats-q4-projections-thanks-to-151-5-million-settlement\/\",\"url\":\"https:\/\/www.casino.org\/news\/scientific-games-beats-q4-projections-thanks-to-151-5-million-settlement\/\",\"name\":\"Scientific Games Beats Q4 Projections Thanks to $151.5 Million Settlement\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/scientific-games-beats-q4-projections-thanks-to-151-5-million-settlement\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/scientific-games-beats-q4-projections-thanks-to-151-5-million-settlement\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/02\/SG.jpg\",\"datePublished\":\"2019-02-22T16:13:15+00:00\",\"dateModified\":\"2019-02-22T16:13:15+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/58769b72851c8cf117fb58ca150ebf8b\"},\"description\":\"Scientific Games books surprise net profit after negotiating a big discount on multimillion-dollar federal antitrust lawsuit.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/scientific-games-beats-q4-projections-thanks-to-151-5-million-settlement\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/scientific-games-beats-q4-projections-thanks-to-151-5-million-settlement\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/scientific-games-beats-q4-projections-thanks-to-151-5-million-settlement\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/02\/SG.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/02\/SG.jpg\",\"width\":1050,\"height\":700,\"caption\":\"In December, slots giant Scientific Games managed to shave almost $160 million off a payment imposed by a federal antitrust suit ruling, which helped to send it back to black. (Image: Las Vegas Review-Journal)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/scientific-games-beats-q4-projections-thanks-to-151-5-million-settlement\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Financial\",\"item\":\"https:\/\/www.casino.org\/news\/financial\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Scientific Games Beats Q4 Projections Thanks to $151.5 Million Shuffle Tech Settlement\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/58769b72851c8cf117fb58ca150ebf8b\",\"name\":\"Philip Conneller\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-5-1-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-5-1-96x96.png\",\"caption\":\"Philip Conneller\"},\"description\":\"In Philip Conneller\u2019s eight years with Casino.org, he has covered the gaming industry from Las Vegas to Macau and everything in between. He currently focuses his coverage on gaming law, white-collar crime, global money laundering, tribal gaming, politics, and regulation. Philip was the original features editor for poker\u2019s Bluff Magazine and editor for Bluff Europe, which he helped launch. His writing has also been featured in ESPN, Forbes, Time Out, The Sun, and The Daily Star, as well as iGaming Business, eGaming Review, and numerous other industry news and tech websites. His news stories for Casino.org\/news have been linked by The Washington Post, The Daily Mail, People Magazine, and Jimmy Fallon's Tonight Show, among many others. Philip once won $20,000 with 7-2 off-suit. He has been reprimanded for unwittingly playing Elton John\u2019s piano on two separate occasions on both sides of the Atlantic. He became a writer because he is a lousy pianist. Philip lives outside London with his wife and children, where he spends his time agonizing about Arsenal FC. Contact Philip at philip.conneller@casino.org.\",\"sameAs\":[\"https:\/\/muckrack.com\/philip-conneller\",\"https:\/\/www.linkedin.com\/in\/philip-conneller-1495a48\/?originalSubdomain=uk\",\"https:\/\/x.com\/casinoorgphilc\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/phillip-conneller\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Scientific Games Beats Q4 Projections Thanks to $151.5 Million Settlement","description":"Scientific Games books surprise net profit after negotiating a big discount on multimillion-dollar federal antitrust lawsuit.","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"Scientific Games Beats Q4 Projections Thanks to $151.5 Million Settlement","og_description":"Scientific Games books surprise net profit after negotiating a big discount on multimillion-dollar federal antitrust lawsuit.","og_url":"https:\/\/www.casino.org\/news\/scientific-games-beats-q4-projections-thanks-to-151-5-million-settlement\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2019-02-22T16:13:15+00:00","og_image":[{"width":1050,"height":700,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/02\/SG.jpg","type":"image\/jpeg"}],"author":"Philip Conneller","twitter_card":"summary_large_image","twitter_creator":"@casinoorgphilc","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Philip Conneller","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/scientific-games-beats-q4-projections-thanks-to-151-5-million-settlement\/","url":"https:\/\/www.casino.org\/news\/scientific-games-beats-q4-projections-thanks-to-151-5-million-settlement\/","name":"Scientific Games Beats Q4 Projections Thanks to $151.5 Million Settlement","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/scientific-games-beats-q4-projections-thanks-to-151-5-million-settlement\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/scientific-games-beats-q4-projections-thanks-to-151-5-million-settlement\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/02\/SG.jpg","datePublished":"2019-02-22T16:13:15+00:00","dateModified":"2019-02-22T16:13:15+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/58769b72851c8cf117fb58ca150ebf8b"},"description":"Scientific Games books surprise net profit after negotiating a big discount on multimillion-dollar federal antitrust lawsuit.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/scientific-games-beats-q4-projections-thanks-to-151-5-million-settlement\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/scientific-games-beats-q4-projections-thanks-to-151-5-million-settlement\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/scientific-games-beats-q4-projections-thanks-to-151-5-million-settlement\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/02\/SG.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/02\/SG.jpg","width":1050,"height":700,"caption":"In December, slots giant Scientific Games managed to shave almost $160 million off a payment imposed by a federal antitrust suit ruling, which helped to send it back to black. (Image: Las Vegas Review-Journal)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/scientific-games-beats-q4-projections-thanks-to-151-5-million-settlement\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Financial","item":"https:\/\/www.casino.org\/news\/financial\/"},{"@type":"ListItem","position":3,"name":"Scientific Games Beats Q4 Projections Thanks to $151.5 Million Shuffle Tech Settlement"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/58769b72851c8cf117fb58ca150ebf8b","name":"Philip Conneller","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-5-1-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-5-1-96x96.png","caption":"Philip Conneller"},"description":"In Philip Conneller\u2019s eight years with Casino.org, he has covered the gaming industry from Las Vegas to Macau and everything in between. He currently focuses his coverage on gaming law, white-collar crime, global money laundering, tribal gaming, politics, and regulation. Philip was the original features editor for poker\u2019s Bluff Magazine and editor for Bluff Europe, which he helped launch. His writing has also been featured in ESPN, Forbes, Time Out, The Sun, and The Daily Star, as well as iGaming Business, eGaming Review, and numerous other industry news and tech websites. His news stories for Casino.org\/news have been linked by The Washington Post, The Daily Mail, People Magazine, and Jimmy Fallon's Tonight Show, among many others. Philip once won $20,000 with 7-2 off-suit. He has been reprimanded for unwittingly playing Elton John\u2019s piano on two separate occasions on both sides of the Atlantic. He became a writer because he is a lousy pianist. Philip lives outside London with his wife and children, where he spends his time agonizing about Arsenal FC. Contact Philip at philip.conneller@casino.org.","sameAs":["https:\/\/muckrack.com\/philip-conneller","https:\/\/www.linkedin.com\/in\/philip-conneller-1495a48\/?originalSubdomain=uk","https:\/\/x.com\/casinoorgphilc"],"url":"https:\/\/www.casino.org\/news\/author\/phillip-conneller\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/99001"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=99001"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/99001\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/99005"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=99001"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=99001"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=99001"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}