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) has announced a major contract renewal, as its SG Digital unit will continue to power the iGaming portfolio of FTSE100 gambling group Entain Plc. Updating investors, SGC confirmed that SG Digital has secured a further three-year extension to its existing partnership, which will see Entain’s brands continue to be serviced by the OpenGaming ecosystem as lead …
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Scientific Games (SG) has reported improved year-end group trading against continued COVID-19 headwinds, impacting the performance of its global commercial pipeline. The Nasdaq gambling technology group has reported consolidated revenues of US$762 million during Q4 2020 – down 11.7% year-on-year but 8.4% higher than revenue of US$698 million recorded during Q3 trading. A breakdown of business units sees SciPlay, Digital …
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Scientific Games Corporation (SGC) has adopted new controls to protect the firm’s leadership structures should majority investor Ronald Perelman move to fully divest his shareholding in the Nasdaq-listed gambling technology group. This story featured in today’s SBC News 90. To view the latest round-up, watch today’s edition here. Issuing a SEC filing, SGC governance revealed that it had updated its …
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Scientific Games Corporation (SGC) has published its Q2 trading statement, underlining that COVID-19 has impacted all core business channels, as the company recorded a net operating loss of $198 million. As previously communicated to markets, the Nasdaq technology group stated that pandemic disruptions have ‘affected comparability to previous trading periods’, as group Q2 revenues dropped from $845 million in Q2 …
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Scientific Games Corporation (SGC) has confirmed that it will upsize its previously announced senior unsecured debt note placement from $350 million to $550 million. The debt placement will be carried by SGC’s global operating unit Scientific Games International (SGI), priced at $550 million with an applied principal aggregate of 8.6% due for repayment in 2025. Net proceeds secured from the …
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Norwegian state-run operator Norsk Tipping has revealed that during 2019, it had allocated almost NOK700m (£60.2m) towards grassroots sporting initiatives as part of its Grasrotandelen initiative. The operator distributed a total of NOK698.2m last year, marking a 7.6% increase on the NOK649m handed out in 2018. Norsk Tipping revealed that via the Grasrotandelen project, over 35,000 grassroots initiatives secured funding …
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Scientific Games Corporation has strengthened its network of partnerships after securing new agreements with both 888 Casino and Betsson. Under the terms of its agreement with 888, Scientific Games will launch more than 120 games in Spain via its Open Gaming System (OGS) platform. Dylan Slaney, SVP Casino at SG Digital, said: “888 is a huge player in the Spanish …
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Via its Global Draw Ltd subsidiary, industry technology group Scientific Games Corporation (SGC) has secured a ‘landmark’ partnership with Norsk Tipping. The new agreement will see SGC supply 3,000-4,500 Video Lottery Terminals (VLT) across approximately 1,000 locations across Norway, which will include convenience stores, bingo venues and other arenas. Thorbjørn A Unneberg, EVP Market Operations Norsk Tipping, commented: “Having worked …
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Targeting aggressive expansion in 2019, the governance of Nasdaq-listed industry technology group Scientific Games Corporation (SGC) has moved to restructure its executive leadership teams. Issuing a market update, SGC confirms three executive promotions impacting its SG Lottery and Digital divisions. Entering 2019, SG Lottery unit will be led by Patrick McHugh, current Senior Vice President of Global Lottery Systems, who …
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