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Unlike most gaming industry companies, which have lost nearly all of their revenue during the coronavirus lockdowns, SciPlay is benefiting from more Americans being at home. Since March 13, SciPlay shares are up 63 percent from $7.72.<\/p>\n<\/div>\n
SciPlay offers seven core mobile social gaming apps: Jackpot Party, Quick Hit Slots, Gold Fish Casino Slots, Hot Shot Casino, 88 Fortunes, Bingo Showdown, and Monopoly Slots. Users can play for free, but also make small in-app purchases.<\/p>\n
“They’re a great way for somebody to spend some time, and perhaps they’re stuck at home like we’re seeing currently,” said SciPlay CFO Michael Cody. “When you compare them to another type of entertainment, such as going to a movie or some other outing that a family would do, it’s a much smaller purchase. And so we would hold up quite well in any recessionary-type situation.”<\/p>\n
Social Gaming Stats<\/b><\/h2>\n
SciPlay presented investors with an earnings slideshow displaying the potential gold mine that is social gaming.<\/p>\n
The company points to research from Eilers & Krejcik that found the global mobile and tablet gaming market in 2019 was worth approximately $84 billion. But of the $84 billion mobile gaming market, social gaming accounted for only $6 billion.<\/p>\n
The SciPlay presentation claims that 74 percent of all mobile spending in 2019 was on gaming purchases, and some 2.4 billion people played a mobile game last year.<\/p>\n","protected":false},"excerpt":{"rendered":"
SciPlay Corporation (NASDAQ: SCPL) reported its first quarter financial results this week, and it was a strong three-month showing for the social gaming company. Revenue in the first quarter totaled $118.3 million, and earnings per share came in at 19 cents each. Net income increased 127 percent to $31.1 million, with earnings before interest, tax, […]<\/p>\n","protected":false},"author":25,"featured_media":135634,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,22988],"tags":[],"acf":[],"yoast_head":"\n
SciPlay Net Income Skyrockets 127 Percent, as Social Gaming Embraced<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n