Private equity rumors surrounding Scientific Games
News comes just days after reports of a possible IPO in Australia.
Scientific Games, the Las Vegas-based provider of gambling products, is attracting interest from private equity companies for its global lottery business. Brookfield Asset Management’s private equity arm as well as Apollo Global Management have both expressed interest, though details of the negotiations are being kept private.
This news comes just days after it emerged that Scientific Games was considering an initial public offering in Australia for its debt-ridden lottery division. In the event of an IPO, it would be Australia’s largest since 2014.
The value of Scientific Games’ lottery division, including debt, is thought to be as high as $7.5bn. It is unknown how high the private equity firms are bidding and representatives for Scientific Games, Brookfield Asset Management, and Apollo Global Management have declined to comment on the matter.
The debt issues facing Scientific Games have been in the news since last June, when the company announced that it was looking to merge with an acquisition company, sell, or somehow combine with another business to relieve its debt obligations. In addition to looking to unload its lottery division, Scientific Games’ sports gambling business was sold to Endeavor Group Holding Company for $1.2bn in cash earlier this year.
Scientific Games is a behemoth in the industry and its sale or restructuring – whether through an IPO or by private equity companies – could have major implications. In the US market alone, Scientific Games’ instant games market has 69% market share and its retail solutions arm claims about a third of the market.
Tags/Keywords
Players trust our reporting due to our commitment to unbiased and professional evaluations of the iGaming sector. We track hundreds of platforms and industry updates daily to ensure our news feed and leaderboards reflect the most recent market shifts. With nearly two decades of experience within iGaming, our team provides a wealth of expert knowledge. This long-standing expertise enables us to deliver thorough, reliable news and guidance to our readers.
Latest News
