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NEWS 19 June 2019

Scientific Games Chairman ups stake in supplier by $2.2m

By Tim Poole

Scientific Games Chairman Ronald Perelman has bought an extra $2.2m worth of shares in the supplier.

Purchasing 110,000 shares at a price of $19.73 each, according to the Nasdaq website, Perelman has bolstered his already significant shareholding with the company.

The Scientific Games Chairman had spent $26.5m on shares during the previous year, purchasing at an average price of $17.97 per share.

Scientific Games' share value has risen from $19.76 to $20.78 since news of the investment was released.

However, the supplier still faces the issue of its legal dispute with Sylebra Holdings.

Earlier this week, CDC Gaming Reports reported that Scientific Games has taken legal action against its third-largest shareholder over suitability issues.

Sylebra, owner of more than 8.6 million shares, is being investigated for alleged ties with illegal gaming and money laundering, which is said to be of concern for regulators in Nevada.

RELATED TAGS: Online | Financial
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