Light & Wonder(US:LNW)2021-03-03 20:09Financial Performance - Scientific Games delivered sequential improvement in Revenue & AEBITDA[4, 22] - The company achieved Free Cash Flow (FCF) of $72 million in 4Q, with a FCF conversion of 23%, up nearly 600 bps year-over-year[5] - Scientific Games paid down $111 million of debt in 4Q and an additional $100 million post quarter end[5, 26] - The company improved available liquidity by $363 million to end 2020 at $1.3 billion[23] - Scientific Games reduced interest expense by $86 million[26] Business Segment Highlights - SciPlay achieved record full year results[4] and improved payer conversion rate from 6% in 2019 to 7.1% in 2020[17] - Lottery experienced record instant game retail sales with all 13 U S SGEP customers in FY2020[4, 13] - iGaming platform increased game rounds played on OGS by 38% to over 34 billion in 2020[19] Strategic Initiatives - Scientific Games is executing on a new global gaming strategy and centralized platform[7] - The company is expanding in the $20 billion casual gaming genre with Solitaire Pets™ Adventure[4, 18] - Scientific Games deployed 10 U S sportsbooks in 2020 and expects to more than double that in 2021[20]