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Scientific Games Corporation (SGMS) announced a definitive agreement to sell its Lottery business to Brookfield Business Partners (BBU) for $6.05 billion, comprising $5.825 billion in cash and a potential earn-out of $225 million based on EBITDA targets. The sale is expected to close in Q2 2022, pending regulatory approvals. This strategic move aims to optimize SGMS's portfolio and reduce debt, allowing for future investments. The Lottery business is a global leader, powering 69% of instant lottery sales. This transaction is viewed as a milestone towards SGMS's vision to become a leading cross-platform global game company.
Scientific Games Corporation (NASDAQ: SGMS) has secured a new five-year contract with the Missouri Lottery, extending their long-standing partnership. This contract, which includes an option to extend for another five years, recognizes Scientific Games' role in driving significant proceeds for education, totaling over $7 billion since inception. The Missouri Lottery's retail sales for Scratchers reached $1.1 billion in 2020, marking a 79% increase since 2011. Player engagement has also surged, evidenced by an 85% increase in registrations for the digital My Lottery® Players Club in fiscal year 2021.
Scientific Games Corporation (NASDAQ: SGMS) will announce its third-quarter results on November 9, 2021, after market close. An investor conference call will be held at 4:30 p.m. Eastern Time to discuss these results. Participants can pre-register for the call to receive a passcode for immediate access. The call will also be accessible via webcast on the Company’s website, with a replay available shortly after. Scientific Games is a leader in entertainment and gaming, offering a wide range of innovative products and services.
Scientific Games Corporation (NASDAQ: SGMS) has established a new technology agreement with LOTTO Hessen, enhancing its lottery systems in Germany. The SYMPHONY gaming systems technology will replace the existing AEGIS system, aiming to improve online gaming access across Germany. This modernization will enable LOTTO Hessen to expand its gaming offerings and integrate third-party solutions efficiently. With approximately €800 million in annual revenues, LOTTO Hessen is poised for future growth amidst regulatory changes, leveraging Scientific Games' advanced solutions.
Scientific Games Corporation (NASDAQ: SGMS) has secured a 10-year contract with the Vermont Lottery to provide advanced gaming systems technology. This contract, won from a global competitor, aims to maximize revenues for Vermont's Education Fund. The company will implement its AEGIS® enterprise gaming system, WAVE™ retailer terminals, and PlayCentral® self-service machines. The new technology is scheduled to be operational by Fall 2022, supporting Vermont's business growth objectives and enhancing player experiences.
Scientific Games (NASDAQ: SGMS) has announced its acquisition of ACS's cashless table game solution, PlayOn, to enhance its gaming portfolio. The new product, rebranded as AToM™ (Access To On Demand Money), provides players with seamless access to funds at live table games without incurring back-end fees. Currently operational at over 600 tables across California, Nevada, and New Mexico, AToM aims to strengthen Scientific Games’ leadership in cashless gaming solutions. The company also offers the Unified Wallet for digital fund access, thus improving player experience and operational efficiencies.
Scientific Games International has secured the necessary consents from a majority of holders for amendments to the indentures governing its various outstanding notes as of September 30, 2021. This follows a consent solicitation initiated on September 23, 2021, to modify the cash requirement from asset sales related to its upcoming IPO of the lottery business, reducing the percentage from 75% to 60%. Notably, holders who consented will receive a pro rata share of a consent payment. The amendments take effect immediately, binding all noteholders.
Endeavor Group Holdings (NYSE: EDR) has announced its acquisition of OpenBet, a prominent sports betting content and platform provider, from Scientific Games Corporation (NASDAQ: SGMS) for $1.2 billion. The deal comprises $1 billion in cash and $200 million in Endeavor Class A common stock, aiming to enhance Endeavor’s offerings in the rapidly growing sports betting industry. The transaction is poised to close in Q2 2022, pending regulatory approvals, and is expected to create a comprehensive solution for sportsbook operators worldwide.
Scientific Games Corporation (SGMS) has entered a definitive agreement to sell its Sports Betting business, OpenBet, to Endeavor Group Holdings (EDR) for $1.2 billion. The deal involves $1 billion in cash and $200 million in Endeavor Class A stock. The transaction is set to close in Q2 2022, pending regulatory approval. OpenBet is a leading sports betting technology provider, serving over 75 global customers. This sale aims to optimize Scientific Games' portfolio and enhance financial flexibility for future investments in key growth areas.
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