Scientific Games lottery division acquired by Brookfield Business Partners
Move comes in a period of flux for the company.
Brookfield Business Partners has acquired the lottery arm of Scientific Games, the latest sign of major changes afoot at the gaming company. The Las Vegas-headquartered group has recently seen other parts of its business undergo a major rebranding.
The lottery arm will continue to be based in the Atlanta, Georgia metro area, where it has been located for decades.
Brookfield is a hallowed investment company in the Americas. Founded in 1899, it is a business and industrial services company that focuses on running quality outfits in both the public and the private sector. In terms of assets, it has over $690bn under management.
With the sale – which amounted to $5.8bn – Scientific Games is hoping that a renewed focus will be shown on aspects of its lottery business, namely providing services and advanced technology.
According to CEO Pat McHugh: “This marks an exciting new chapter for Scientific Games, and positions the company to build on the record growth we achieved in 2021 across all parts of our lottery business.
“Taking a long-term view of the business, Brookfield is committed to providing Scientific Games with the flexibility and agility necessary to expand our deep product portfolio to meet the evolving needs of our customers and their beneficiaries.”
This move is the latest in what has been a major reshuffling at Scientific Games. Just weeks ago, a sizeable portion of the company (not, though, this recently-sold lottery arm) was rebranded and is now known under the moniker Light & Wonder.
Despite the rebranding, this lottery arm will continue to be known under the Scientific Games name.
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