The initial offer was announced on 15 July 2021 when SG offered to merge with SciPlay. As a result of said merger, SciPlay shareholders, outside of SG, would have received 0.25 shares of SGMS stock for each share of SciPlay.
However, SG retains its 81% economic interest and 98% voting interest in SciPlay.
Barry Cottle, President and CEO of Scientific Games, said: "In line with our approach to capital management and disciplined M&A (Mergers and Acquisitions) we have decided that continuing to pursue this opportunity would not be prudent for our shareholders at this time.
“SciPlay remains a strategic asset and has the opportunity to drive meaningful value, as it grows its social casino market share and expands into the $20bn casual genres, leveraging its expertise in engagement and monetisation.”
SG has recently announced the sales of its lottery and sports betting business for approximately $7bn, transactions that are expected to finalise in Q2 2022.
