Digital games developer SciPlay has today announced the formation of a special committee of independent directors to advise the company. The board has granted the committee independent authority to review and evaluate the proposal that SciPlay sell the remaining 19% equity interest to its majority owner, Scientific Games.
SciPlay’s platform currently consists of seven games in the social casino and casual games market: Jackpot Party Casino, Gold Fish Casino, Hot Shot Casino, Quick Hit Slots, Monopoly Slots, Bingo Showdown and 88 Fortunes. Each game is available through Apple, Google and Amazon.
The proposed acquisition of the remaining 19% of the company would see SciPlay shareholders, excluding Scientific Games’ and its subsidiaries, receive 0.250 shares of Scientific Games common stock for each SciPlay stock they own. This suggests a premium of 11% based on the current respective stock prices of SciPlay and Scientific Games.
In the announcement, the company cautioned its shareholders and any other interested parties who plan to trade in its stocks that they are yet to make a final decision regarding Scientific Games’ proposal.
In regard to the acquisition, Scientific Games said in a statement: “This proposed transaction is another important step forward on the strategy Scientific Games recently announced to become a content-led growth company with a particular focus on digital markets. SciPlay fits perfectly into Scientific Games' focus on building engaging content and launching great games more fully cross-platform.”
Scientific Games recently announced the acquisition of Sydney-based games developer Lightning Box.
