Scientific Games nets $3.6M

Scientific Games Racing, the bet-processing company formerly known as Autotote, had net operating income of $3.6 million in the third quarter of 2003, according to financial statements released on Thursday.

The company's revenue in the third quarter from its parimutuel division was $21.3 million, identical to last year's third-quarter figure. Net operating income in the third quarter last year was $4.1 million.

Scientific Games Racing is a subsidiary of Scientific Games Inc., which derives a majority of its revenue from lottery ticket sales and lottery service contracts.

In all, Scientific Games Inc. had net income of $11.3 million in the third quarter, or 15 cents a share, according to the statements. Last year, the company lost $7.7 million in the third quarter, after retiring $15.6 million in debt.

Scientific Games Racing is the largest parimutuel provider in the U.S., with approximately two-thirds of the market share by handle.