{"id":265,"date":"2024-06-27T20:28:05","date_gmt":"2024-06-27T17:28:05","guid":{"rendered":"https:\/\/america777nodepositbonus.icu\/2024\/06\/27\/scientific-games-withdraws-offer-to-acquire-remaining-sciplay-shares\/"},"modified":"2024-06-27T20:28:05","modified_gmt":"2024-06-27T17:28:05","slug":"scientific-games-withdraws-offer-to-acquire-remaining-sciplay-shares","status":"publish","type":"post","link":"https:\/\/america777nodepositbonus.icu\/2024\/06\/27\/scientific-games-withdraws-offer-to-acquire-remaining-sciplay-shares\/","title":{"rendered":"Scientific Games Withdraws Offer to Acquire Remaining SciPlay Shares"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/vl9kJ4BDBMQ\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Scientific Games Corporation (SGC) has decided to retract its proposal to acquire the remaining nineteen percent ownership in its social gaming branch, SciPlay, through an all-stock transaction.<\/p>\n<p>Last July, Scientific Games presented a proposition to purchase all the SciPlay shares it did not already possess.<\/p>\n<p>The agreement suggested an enterprise value of $1.9 billion and would have provided SciPlay shareholders, excluding SGC, 0.25 shares of Scientific Games stock for each SciPlay share they held.<\/p>\n<p>However, the choice to withdraw the offer will leave SGC with an eighty-one percent economic interest and ninety-eight percent voting authority in SciPlay.<\/p>\n<p>SciPlay was once the social gaming division within Scientific Games until it became an independent entity in 2019, listing on the Nasdaq stock exchange.<\/p>\n<p>&#8220;Based on our capital management and sound M&#038;A principles, we believe that continuing to pursue this opportunity is not in the best interests of our investors at this time,&#8221; stated Barry Cottle, President and CEO of SGC.<\/p>\n<p>&#8220;We remain dedicated to our strategy of developing exceptional games across platforms, utilizing our unparalleled portfolio of popular franchises, world-class talent, and high-quality content engine.&#8221; <\/p>\n<p>SciPlay is a prized possession with the potential to generate significant revenue as it expands its presence in the social casino market. They are also leveraging their expertise in player engagement and monetization to venture into the lucrative $20 billion casual gaming sector.<\/p>\n<p>We will continue to allocate resources to this area judiciously. As we implement our plan, we will maintain financial prudence and prioritize investments that will enhance our earnings per share.<\/p>\n<p>This move follows a series of acquisitions by SGC in recent months, including the acquisition of Swedish game developer Elk Studios last month and the acquisition of casino solutions provider Authentic Gaming in November 2021. This marked their initial foray into the live casino market.<\/p>\n<p>Last October, SGC also reached an agreement to divest its lottery operations to private equity firm Brookfield Business Partners for $6.05 billion. Their sports betting division will be sold to IMG Arena owner Endeavor.<\/p>\n<p>SGC stated that the proceeds from the lottery business sale will facilitate accelerated growth by reducing debt, investing in their core operations, and acquiring additional digital companies. This will result in enhanced returns for investors. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Scientific Games Corporation (SGC) has decided to retract its proposal to acquire the remaining nineteen percent ownership in its social gaming branch, SciPlay, through an all-stock transaction. Last July, Scientific Games presented a proposition to purchase all the SciPlay shares it did not already possess. The agreement suggested an enterprise value of $1.9 billion and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SciPlay Deal Off: Scientific Games Backs Down<\/title>\n<meta name=\"description\" content=\"Scientific Games has withdrawn its offer to acquire the remaining shares of SciPlay, ending a potential $1.9 billion deal. 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