LAS VEGAS, Jan. 24, 2018 /PRNewswire/ -- Scientific Games Corporation (NASDAQ: SGMS) ("Scientific Games" or the "Company") today announced selected preliminary financial results for the fourth quarter and full year ended December 31, 2017, in connection with the opportunity to refinance a portion of its debt to take advantage of favorable market conditions to lower its cost of debt and extend maturities.  

Results of Operations 
The Company currently expects consolidated revenue to increase approximately nine percent to a range of approximately $820-to-$825 million for the three month period ended December 31, 2017, and full year 2017 revenue to grow approximately seven percent and be in a range of approximately $3,081-to-$3,086 million compared to $752 million and $2,883 million for the fourth quarter and full year 2016, respectively.

The Company further expects that its net loss for the fourth quarter 2017 will be in a range of approximately $40-to-$50 million, inclusive of a projected $28 million of restructuring and other charges, which primarily includes M&A costs associated with the NYX Gaming Group transaction that was completed on January 5, 2018. Full year 2017 net loss is expected to be in a range of approximately $238-to-$248 million. Fourth quarter 2016 net loss was $111 million and full year 2016 net loss was $354 million.

Fourth quarter 2017 Attributable EBITDA ("AEBITDA"), a non-GAAP financial measure defined below, is expected to be approximately $320-to-$325 million with full year 2017 AEBITDA of approximately $1,220-to-$1,225 million. Fourth quarter 2016 AEBITDA was $294 million and full year 2016 AEBITDA was $1,104 million.

"Our preliminary results for the fourth quarter 2017 reflect our focus on generating top-line growth and ongoing improvements across our gaming, lottery and interactive operations," said Kevin Sheehan, CEO and President of Scientific Games. "I am proud of the dedication and success achieved by the collaborative efforts of our Scientific Games colleagues around the globe who continue to empower our customers and deliver success for all our stakeholders."

The preliminary unaudited results noted in this release are derived from preliminary internal financial reports and are subject to revision based on the Company's procedures and controls associated with the completion of its year-end financial reporting, including all the customary reviews and approvals, and completion by the Company's independent registered public accounting firm of its audit of such financial statements for the year ended December 31, 2017. Accordingly, actual results may differ from these preliminary results and such differences may be material. The Company currently anticipates releasing its fourth quarter results and full year 2017 results on February 28, 2018 after market close.

The Company is sharing these preliminary financial results with its prospective lenders in connection with a potential refinancing transaction, in which it would take advantage of favorable market conditions to refinance approximately $1,400 million of its outstanding 7.000% senior secured notes due 2022 and approximately $185 million of borrowings under its revolving credit facility with a combination of new senior secured term loans and new senior secured notes, as well as approximately $300 million of new senior unsecured notes.  The Company has not committed to engage in any refinancing transaction, the terms of the potential refinancing transaction described above is subject to change, and the pursuit of any refinancing transaction is subject to market conditions.