Apollo and Brookfield interested in Scientific Games’ global lotteries business
Scientific Games has attracted takeover interest for its global lotteries business from Brookfield Asset Management Inc.’s private equity arm and Apollo Global Management Inc., as reported by Bloomberg.
Bloomberg said representatives from Brookfield, Apollo and Scientific Games all declined to comment, but noted that the reported interest is “according to people familiar with the matter.”
Scientific Games has reportedly been in discussions with private equity firms about the potential sale of its lotteries unit, while reports broke earlier this week that the company is considering a stock listing in Australia. The initial public offering could raise an estimated AU$4bn (US$3bn), and the share sale process could commence this week.
Bloomberg added that a final decision on any sale has yet to be made, noting that Scientific Games could still decide to keep the unit.
Scientific Games earlier this year said it was exploring divesting its lotteries and sports betting units via a merger with a special purpose acquisition company, or through a strategic combination with another business, in an attempt to rein in debt.
And last month, the group entered into a definitive agreement to sell its sports betting business OpenBet to Endeavour Group Holdings, Inc. in a cash and stock transaction valued at $1.2bn.
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