Irish arm of US tech giant doubles profit

Pre-tax profits at the Irish arm of gaming technology firm Scientific Games Worldwide more than doubled last year to $7m (€5.6m).

Accounts filed by Scientific Games Worldwide Ltd show the firm doubled its profits after revenues increased marginally from $74m to $78m in the 12 months to the end of December last.

The principal activity of the Co Longford-based firm is the leasing of gaming terminals and the provision of lottery software, services and terminals. The Irish unit was established in 1993 in Ballymahon.

It is the lead business unit responsible for all international lottery and racing services business conducted on behalf of Scientific Games Corporation outside the US, including software, hardware, point-of-sale terminals and continuing support.

The Irish facility, with 16,200 sq ft of space, accommodates EMEA Centre for lottery manufacturing, including its HQ for Irish Horseracing.

The chief factor behind the increase in profit was a $5.6m income from shares in group undertakings.

The figures show that the firm’s operating profits reduced by 54% from $6.4m to $2.9m last year.

The sharp decrease was mainly due to a 30% increase in administrative expenses going from $34.2m to $44.5m. The firm’s cost of sales dropped from $33.4m to $30.6m.

The numbers employed last year declined from 34 to 27, with 21 engaged in production and six in administration. Staff costs increased from $1.7m to $1.9m.

Scientific Games’ global revenues last year climbed to $878.7m.


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