Scientific Games Corp. reported 4Q loss of $65.8 million

Mar 24, 2009 4:05 PM
Earnings by Ray Poirier |

After taking a huge impairment charge, Scientific Games Corp. (SGMS) reported a fourth-quarter loss of $65.8 million or $0.71 per share compared to last year’s net profit of $16.4 million or $0.17 per share.

The impairment charge related to a reduction in the value of assets and the severance costs associated with the departure of certain executives.

Also the company said it was considering the possible sale of its racing and venue management operations and had retained a financial adviser to help with the review process.

The company operates the Autotote wagering systems as well as a simulcasting facility in Connecticut.

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