Published
LotterySports Betting

Scientific Games intending to divest Lottery and Sports Betting businesses

Scientific Games will divest its Lottery and Sports Betting businesses, with the decision backed by the company’s Board of Directors, including Executive Chair Jamie Odell and Executive Vice Chair Toni Korsanos.

sg stratrev

Scientific Games said it is “evaluating strategic alternatives to execute the divestitures for each business,” which includes an initial public offering or a combination with a special purpose acquisition company, or indeed a sale or strategic combination with another business.

The decision comes as part of the group’s Strategic Review, with Scientific Games aiming to accelerate its path to becoming a content-led growth company focused on both land-based and digital markets.

“When I joined the board in September 2020, I told stakeholders that we were focused on rapidly de-leveraging the balance sheet, unlocking the value of the company’s products and technologies and creating a flexible, nimble company positioned to deliver above-market returns to investors,” said Jamie Odell, Executive Chair of Scientific Games.

“Today, we have announced major initiatives aimed at achieving each of these key objectives, recognizing significant value in each of the businesses and positioning the company for sustainable growth, all as a result of the dedicated work of our teams.”

The company added that there can be no assurances that the decision will result in any transactions, and that it does not intend to further comment on the matter until it is necessary to do so.

Barry Cottle, President and CEO of Scientific Games, commented: “Today’s announcement reflects key steps to optimize our portfolio and strengthen our balance sheet by significantly de-levering while also targeting investments in our largest growth opportunities. 

“These steps will accelerate our path to become a content-led growth company focused on leading in both land-based and digital markets. Our company will be positioned to build great games that define the future of gaming, supported by platforms that power the best operators in the world.”

Premium+ Connections
Premium

Lynon

 
Premium

Revsharks

 
 
Premium

1xBet Partners

 
Premium

Imagine Live

 
Premium

PIN-UP Partners

 
Premium

Galaxsys

 
Premium

GammaStack

 
Premium

Digitain

 
Premium

RISK

 
Premium

Sport Generate

 
Premium Connections
Consultancy

SCCG Management

Executive Profiles
Zeal Network SE

Stefan Tweraser

VIP Play

Les Ottolenghi

Scientific Games

Keshav Pitani

Social & App

Spribe CEO exclusive: Simplicity is the foundation

Spribe CEO David Natroshvili speaks to Gambling Insider abou...

Redefining iGaming: A history of crash games

Crash games is a growing vertical that has taken gambling by...

A certain something: What makes crash games special?

Crash games. They’re simple, they’re easy to learn and,...

Smarter innovation to shape the future

Spribe CCO Giorgi Tsutskiridze discusses the past, present a...

Facing Facts: The corner of quarterly contemplation

With Q1 reports out across the industry, Gambling Insider co...

Taking Stock: A guide to key stock prices across the industry

Gambling Insider tracks prices from some of the industry’s...

15 years of Gambling Insider: From the Founders

Over the last 15 years, Gambling Insider magazine has interv...

15 years of Gambling Insider: The Awards over time

Global Gaming Awards Event Manager Mariya Savova gives us he...