SciPlay has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) regarding its initial public offering (IPO). No pricing details were mentioned in the filing, but the offering is valued up to $100 million. The company intends to list its shares on the Nasdaq under the symbol SCPL.
The underwriters for the offering are Merrill Lynch, JPMorgan, Deutsche Bank, Goldman Sachs, Morgan Stanley, Macquarie Capital, RBC Capital Markets, Stifel, and Wedbush.
This is a leading developer and publisher of digital games on mobile and web platforms. SciPlay creates its games around compelling user experiences, often using authentic land-based content from Scientific Games to anchor these experiences. Its first social game, Jackpot Party Casino, has continued to grow since its launch in 2012, with many of the players who began playing in 2012 still playing over six years later.
During the fourth quarter of 2018, SciPlay’s games were played by a total of more than 11.6 million players. Of those players, more than 8.4 million played each month, with roughly 32% of the monthly players playing every day, for an average of 54 minutes each day. During that same quarter, the firm achieved an 8.6% share of the mobile social casino market and its revenue growth was 5.5 times as high as the social casino market average.
Total revenue has grown from $168.8 million in 2015 to $416.2 million in 2018, representing a compound annual growth rate (CAGR) of 35%. The mobile portion of revenue has grown from $109.4 million in 2015 to $323.3 million in 2018, representing a CAGR of 44%. The average CAGR for mobile revenue in the social gaming industry was 25% over the same period.
The company intends to use the net proceeds from this offering to purchase LLC interests from SG Holding I and SciPlay Parent LLC.
24/7 Wall St.Cash Back Credit Cards Have Never Been This Good
Credit card companies are at war, handing out free rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.