SciPlay generated a record $189.9 million in revenue in the second quarter of 2023, representing a 19% increase from $160.1 million in the same period of 2022, according to its latest financial report.
Net income also increased 28.2% over the same period, standing at $41.4 million compared to $32.3 million, and a margin of 21.8% compared to 20.2%.
Adjusted EBITDA stood at $59.4 million, at a margin of 31.3%, compared to $41.1 million and 25.7% in Q2 2022.
With this result, SciPlay furthers its position as the king of the social casino market, outperforming competitors for the sixth consecutive quarter.
"SciPlay has consistently grown our business and led the social casino market in performance over the past six consecutive quarters,” said CEO Josh Wilson. “Our strong and consistent growth reflects the delivery of great gaming and entertainment experiences to our players, and the unrivalled execution of our team.
"SciPlay is a player-first focused company, aligning all of our activities toward providing players with the most engaging and highly entertaining content. As a result, during the quarter we increased our base of payers while growing our monetisation per player. We are investing in our business, people, technology and scalability tools to best fulfil this focus, and our stockholders are seeing the results of our investments and our team's determination. We remain focused on executing on our strategy and driving sustainable revenue and profitability growth.”
Top of the game
Alongside the company’s sixth consecutive period of outperforming the industry, several games within SciPlay’s portfolio recorded significant milestones.
Gold Fish Casino, Quick Hit Slots, and Jackpot Party Casino all all recorded record revenue,
with Jackpot Party Casino doing so for the fourth consecutive quarter and Quick Hit Slots doing so for the sixth.
Average monthly paying users increased to 609,000 compared to 560,000 in Q2 2022. Average revenue per daily active users rose 26%, from $0.74 to a record $0.93, while average monthly revenue per paying user (AMRPPU) also hit a new record of $102.04, marking Q2 2023 as the 13th consecutive quarter with AMRPPU above $90.
"SciPlay continued to perform at a high level in the second quarter of 2023, illustrating the quality of our earnings, cash flows and sustainable growth,” said interim CFO Daniel O’Quinn. “We continue to outperform the social casino market, posting our sixth consecutive quarter of over-performance and driving the competitive lead we’ve established in the space. We are delivering engaging experiences to our players, retaining them in our games and heightening our payer base and their monetization."
SciPlay’s continued success has made the company an attractive investment opportunity, and on August 8 Light & Wonder entered into a definitive agreement to acquire the remaining 17% of equity interest in the company it didn’t already own in an all cash transaction. Pursuant to this merger, SciPlay shareholders will receive $22.95 for each share of Class A common stock they own.
In June, Oxana Fomina examined the continued success of Jackpot Party Casino.
