Scientific Games Lottery acquired by Brookfield Business Partners
Scientific Games' global lottery service has been acquired by Brookfield Business Partners in a deal worth $5.8bn.
The agreement will allow Scientific Games to concentrate on the provision of games, services and technology to the global lottery and lottery-administered sports betting markets. Founded in 1973, operation will continue under the name of Scientific Games, Metro Atlanta will remain as the company’s headquarters and, similarly, the executive leadership team will consist of the same individuals.
“This marks an exciting new chapter for Scientific Games and positions the company to build on the record growth we achieved in 2021 across all parts of our lottery business,” said Pat McHugh, Scientific Games CEO.
“Taking a long-term view of the business, Brookfield is committed to providing Scientific Games with the flexibility and agility necessary to expand our deep product portfolio to meet the evolving needs of our customers and their beneficiaries.”
Established in 1899, Brookfield Business Partners is a global business service and industrial company that focuses on the ownership and operation of businesses offering high-quality products and services.
Back in March of this year, Scientific Games Corporation’s gaming and iGaming business was renamed Light & Wonder.
Light & Wonder CEO Barry Cottle commented at the time: “We are thrilled to introduce the world to Light & Wonder, a company that will build great games and franchises that offer players a seamless experience across platforms. Our powerful new strategy required a powerful new identity to distinguish us and our unique offerings and capabilities.”
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