Targeting an enhanced profile for its Australian gaming operation, Light & Wonder (L&W) is mulling the pros and cons of a listing on the ASX. The listing would serve as secondary to the firm’s primary public trading on the US Nasdaq exchange, with the explicit goal of supporting its Australian growth plans. L&W detailed that its Board of Directors ‘has …
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Light & Wonder has confirmed the promotion of Matt Wilson as President and Chief Executive (CEO) of the Global Nasdaq online gambling technology group. Wilson has served as interim CEO of Light & Wonder since August, as the group entered a leadership transition following the departure of Barry Cottle. The board of Light & Wonder has determined Wilson to be …
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Light & Wonder Inc (formerly Scientific Games Corp) has confirmed that Barry Cottle has resigned as Chief Executive and a board member of the Nasdaq cross-platform games supplier. The board of L&W has begun a search process to find Cottle’s successor, as long-term senior executive Matt Wilson takes charge of the day-to-day leadership of L&W as Interim CEO. The former …
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Scientific Games Corporation (SGC) has announced this morning that it will sell its SG Lottery unit to Brookfield Business Partners and its institutional partners for a total sum of $6.05 billion. The consideration will consist of $5.825 billion in cash and an earn-out of up to $225 million dependent on the achievement of specified EBITDA targets in 2022 and 2023. …
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Two international investment firms are reportedly interested in acquiring Scientific Games Corporation’s (SGC) lottery divisions, according to Bloomberg. Citing ‘people familiar with the matter’, the outlet reported that Brookfield Asset Management Inc.’s private equity arm and Apollo Global Management Inc are interested in purchasing the Nasdaq-registered igaming provider’s lottery unit. SGC disclosed that it would pursue a ‘strategic divestment’ of …
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The board of Scientific Games Corporation has disclosed its intentions to acquire the remaining 19% equity interest in casual games subsidiary SciPlay. The transaction has been ordered to advance Scientific Games planned strategic overhaul, which will see the Nasdaq gambling technology group operate a solely focused casino games developer and content supplier. SciPlay had been independently listed on Nasdaq in …
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The board of Scientific Games Corporation (SGC) has this afternoon disclosed that it will pursue a ‘strategic divestment’ of the technology group’s lottery and sports betting units. The decision is reported to be supported unanimously by the SGC board, including Executive Chairman Jamie Odell and Executive Vice Chair Toni Korsanos. Issuing a short statement, SGC detailed that decisive steps needed …
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Scientific Games Corporation (SGC) is reportedly reviewing strategic options to list its business on the Australian Securities Exchange (ASX). The Australian Financial Review (AFR) has reported that SGC has recruited Sydney-based investment bank Jarden Australia to draft the company’s pathway towards listing on the ASX. An ASX-listing is detailed as one option to address SGC’s long-term debt reduction, which currently …
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Scientific Games Corporation has strengthened its leadership team after appointing former Aristocrat Leisure CEO Jamie Odell as the group’s new special advisor to the chairman and CEO. Odell joins the company after an 8 year tenure at Aristocrat, where he oversaw the company’s market capitalisation, growing Aristocrat from a $1.3bn company up to a company valued at approximately $7.5bn. As …
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Today marks the first day of Trevor Croker’s reign as Chief Executive of Australia ASX-listed Aristocrat Gaming, taking over from long-term incumbent Jamie Odell (2008-2016), who announced his departure as the firm’s leader last November. Being officially appointed CEO at Aristocrats Annual General Meeting, Croker stated to investors that he would priorities ‘shareholder growth and product renewal’ as new leader …
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