Scientific Games Acquires EsysnetG, Grows Product Portfolio

By Zacks Investment ResearchStock MarketsFeb 27, 2018 08:48PM ET

www.investing.com/analysis/scientific-games-acquires-esysnetg-grows-product-portfolio-200295094

Scientific Games Acquires EsysnetG, Grows Product Portfolio

By Zacks Investment Research | Feb 27, 2018 08:48PM ET

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Scientific Games Inc. (NASDAQ:SGMS) recently acquired Sao Paulo, Brazil-based “video bingo content studio” E-SYS Techologia EM Informática S.A. ("EsysnetG") for an undisclosed amount.

Per Scientific Games' Group Chief Executive of Gaming Derik Mooberry, ”This acquisition will enable us to provide our customers with expanded, engaging video bingo content and is yet another example of our continued investment in solutions that help the Company offer the broadest portfolio of innovative products in the industry,"

The acquisition will enable the company to cash in on the mobile as well as online games developed by EsysnetG and help it to grow globally.

Scientific Games’ shares have gained 122.8% in the past year, substantially outperforming the industry’s 36.8% rally.

Scientific Games Banks on Acquisitions

Strategic acquisitions have been a key growth factor for Scientific Games over the years.

In January, Scientific Games completed the acquisition of Tech Art, supplier of blackjack hole-card readers. The acquisition expands the company’s gaming portfolio by adding table games namely Super Fun 21 and Bet the Bust as well as strengthen its foothold in the international market with Tech Art’s MAXTime 4H.

In the same month, the company also acquired Canada-based NYX Gaming Group (NYX) that will enable it to broaden its product pipeline in digital gaming and online lottery markets. NYX’s sport betting platform OpenBet Sportsbook will further position it well for the online gambling market.

In July 2017, the company announced the acquisition of Bristol, UK-based Red7Mobile Ltd., which provided Scientific Games with access to a large portfolio of mobile and interactive game titles, including slot games, instant win/scratch cards, and table games.

The company’s buyout of DEQ Systems in January last year is also driving results. With the acquisition, the company stands to benefit from DEQ's EZ Baccarat, which has about 800 table games in 150 casinos globally.

We note that earlier acquisitions of Bally Technologies, WMS Industries, Parspro and Provoloto, Barcrest Group Limited, Sceptre Leisure Solutions and GameLogic have expanded the company’s ability to offer computerized systems and services to the global gaming industry.

We believe that the company will continue to pursue accretive acquisitions, which will boost its market share and customer base going forward.

However, the company’s leveraged balance sheet results in significant interest expense. Adding more debt for funding acquisitions will further enhance its indebtedness and weigh on its profitability.

Scientific Games Corp Revenue (TTM)

Scientific Games Corp Revenue (TTM) | Scientific Games Corp Quote

Zacks Rank & Stocks to Consider

Scientific Games carries a Zacks Rank #3 (Hold).

Better-ranked stocks in the broader technology sector are NVIDIA (NASDAQ:NVDA) , Lam Research (NASDAQ:LRCX) and Paycom Software (NYSE:PAYC) , all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Long-term earnings growth for NVIDIA, Lam Research and Paycom is projected to be 10.3%, 14.9% and 10%, respectively.

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Scientific Games Acquires EsysnetG, Grows Product Portfolio

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