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Stock Alert: Scientific Games Falls 18%

Shares of gambling products provider Scientific Games Corporation (SGMS) are falling more than 18% on Wednesday morning after the company's fourth-quarter earnings missed estimates.

The stock gapped down more than 12% today morning and is currently trading at $24.08. SGMS has traded in the range of $16.02- $31.63 in the last 52-weeks.

Scientific Games reported fourth-quarter net loss of $43 million or $0.46 per share compared to net income of $207 million or $2.25 per share in the year-ago quarter. Analysts polled by Thomson Reuters were expecting earnings of $0.22 per share.

Revenue decreased to $863 million compared to $886 million in the prior-year period. The lower revenue was attributed to drop in gaming revenue primarily due to fewer systems launches in Canada compared to last year and lower machine unit sales.

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