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Rush Street Interactive (NYSE: RSI) has partnered with Scientific Games (NASDAQ: SGMS) to launch their online casino games in West Virginia, making RSI the first online casino operator in the state to offer these games. Popular titles include 88 Fortunes and Monopoly Megaways™. The partnership aims to enhance player experience with engaging features and bonuses. RSI is known for providing high-quality customer service and efficient payout methods. This collaboration marks a significant step in expanding online gaming offerings in West Virginia.
Scientific Games Corporation (NASDAQ: SGMS) will announce its Q2 2021 financial results on August 9, 2021, before market open. An investor conference call is scheduled for 8:00 a.m. ET to discuss these results. Participants are encouraged to pre-register for immediate access to the call. Those unable to pre-register can dial in using provided numbers. A replay will be available for a week following the call. For further details, visit www.scientificgames.com.
On July 15, 2021, Scientific Games (NASDAQ: SGMS) proposed an all-stock acquisition of the remaining 19% equity interest in SciPlay (NASDAQ: SCPL) for an enterprise value of $1.9 billion. This move aims to enhance shareholder value and align SciPlay’s growth with Scientific Games' strategy to become a leader in cross-platform gaming. The proposal includes a premium of 11% based on recent stock prices. Scientific Games holds approximately 81% of SciPlay's economic interest and anticipates no regulatory hurdles for transaction completion.
Scientific Games Corporation (NASDAQ: SGMS) announced plans to divest its Lottery and Sports Betting businesses with support from its Board of Directors. The company is exploring strategic alternatives such as an IPO, SPAC merger, or outright sale. Executive Chair Jamie Odell emphasized the aim to de-leverage the balance sheet and enhance company value. CEO Barry Cottle indicated that these initiatives will strengthen the company’s portfolio, focusing on growth opportunities in both digital and land-based markets. There are no assurances that these strategies will lead to transactions.
Scientific Games Corporation (NASDAQ: SGMS) has launched its sports betting solution in Indiana, Virginia, and Tennessee in partnership with WynnBET. This collaboration utilizes the OpenSports product suite and managed trading services. The launches signify the growing demand for sports betting in the U.S. market. Cathryn Lai, SVP and GM U.S., Digital, highlighted that these launches mark a significant milestone in their partnership, emphasizing the capabilities of the OpenSports platform to enhance player experiences.
Scientific Games (NASDAQ: SGMS) has acquired SportCast, enhancing its sports technology portfolio. Founded in 2013, SportCast is known for its innovative betting experiences, including the award-winning BetBuilder. This acquisition aims to drive growth in the rapidly expanding North American sports betting market, with SportCast's technology capable of processing over 12,000 bets per second across major sports. The integration is expected to boost player engagement and enable innovative product rollouts.
Scientific Games (NASDAQ: SGMS) reported a strong first quarter of 2021 with revenue of $729 million, up 1% from last year. They achieved a net loss of $9 million, significantly improved from $155 million in Q1 2020, aided by growth in their Lottery, SciPlay, and Digital segments. Adjusted EBITDA rose 35% to $270 million, while free cash flow increased to $80 million. The company continues to focus on deleveraging its balance sheet, having reduced total debt to $9.166 billion. Available liquidity as of March 31, 2021, was $1.32 billion, showing a healthy cash position.
Scientific Games Corporation (NASDAQ: SGMS) will announce its first quarter 2021 results on May 10, 2021, before market opening. An investor conference call will take place at 8:00 a.m. Eastern Time to discuss these results. Participants are encouraged to pre-register for immediate access to the call. Dial-in numbers are available for those who cannot pre-register. A replay of the call will be accessible for one week. Scientific Games specializes in technology-driven products and services for the gaming and lottery industries.
Scientific Games Corporation (NASDAQ: SGMS) announced the appointment of Victor Blanco as Chief Technology Officer, effective 2022. Blanco will oversee the company’s technology strategy in gaming, lottery, sports betting, and iGaming. He previously served as CTO at Aristocrat, contributing to the turnaround of their land-based gaming business. Blanco's background includes leadership roles at HTC and Microsoft, where he worked on the first Xbox. His appointment aims to enhance the company’s innovation in game development and technology.
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